w/ the verification process that takes two or more days,I thought that stuff was checked

Yes, I can only scratch my head about this myself!

will HF20 address any of this?

Yes, I've commented about this and linked to the relevant posts in my recent article Cookie Crumbs 3. In essence they plan to create new accounts without any voting power. I am sure this will reduce the incentive for exploiting the sign-up a little, but I doubt it's an ideal solution, if there is anything like an ideal solution at all.

will these accounts and names be like lost passwords accounts? lost forever. I mean after dealt w/. never available?

Yes, and some pretty glamorous account names have already been snatched up by cheaters. It's a pity!