Help with Custom Title/Rank

[mm1334]

I am new to vbulletin, and my programming knowledge is only "ok", so I need some help with figuring out how to do this. I am trying to accomplish the following:

1. Establish my own titles for users, that are NOT based on number of posts.
2. Have users to designate their own title at the time they register (and preferably allow changes to it later through the UserCP or by me through the AdminCP)
3. Have custom text in the registration page to guide them in designating their title -- or if that's not possible then at least have text directing them to the correct place to designate their title.
4. Have titles visible under each (or near) user's username in the forums.

I have not been able to figure out how to do this with normal vbulletin functions, so would I need a hack to do this? Is there, or could there even be a hack to do this?

Thanks for helping out a stupid newbie!