The context of the paragraph clarifies the point:
the King James Version had employed this in four places, but everywhere else, except in three cases where it was employed as part of a proper name, used the English wordLord (or in certain cases God) printed in capitals.
The present revision returns to the procedure of the King James Version
The form "Jehovah" is of late medieval origin;
For two reasons the Committee has returned to the more familiar usage of the King James Version
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"It would not matter much to me if in the OT the one and only was referred to as personal name"
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Isn't this similar to WT's reasoning? As long as fudging doesn't bother us, we're okay with picking-and-choosing what's acceptable?
It's no different than saying, "even though the WT calls god "Ralph" in the OT, and I know god's name isn't really" Ralph", I'm okay with it. But, when it also calls god "Ralph" in the NT, now I've got a problem with it!"