One of the basis for Piracy of old, was working for ones self, beholden to no one and most especially not following rules imposed upon them by others. So even if everyone on the forums adopts this code, it is only a small percentage of the people who are doing it in game. Also, there are people who say Yea here, and Nay in game. Then there are the people that will do whatever they want with no concern for anyone else.
I think that if you do Pirate with some code of honour, like you have suggested, then you should be known as an Honourable Pirate, or Gentleman Bandit. My preference would be the later. The ones who interdict and kill without discretion are just murderers and criminals. I think there should be a way to mark them in game as such. Able to mark them wanted for what? Would be a nice addition to know why the person is wanted. Would make a difference
Being wanted for accidentally shooting authorities in the heat of battle while trying not to die after being jumped is not the same as killed people for no reason. Problem is the game makes no differentiation.
But unless there is a mechanic, no one will know if the person on the other end is an indiscriminate killer, or a gentleman bandit. Assume the earlier, hope for the latter but don't count on it.