I'll be a bit vague here as to not spoil anything(too much)... but one of my characters got awarded with the Corellian Blood stripes... which I though was just GREAT.
Except... the award was text only. No new pants for me to wear with stripes, no new magically appearing stripes on my worn pants, not even a custom title I could flaunt that proclaimed my honour.
I suggest this be expanded a bit, at least a title award, potentially "real" stripes for the pants... (caveat, I haven't looked through all pants in the game to see if there actually is some pants that has these stripes).