Our administration (well-funded suburban public district) was strictly against naming Valedictorian/Salutatorian. They felt that all of the high-performing kids were already applying enough pressure on themselves day-in day-out, and that it would be unhealthy and somewhat unproductive for them to try to compete over (somewhat arbitrary) decimal points.
However, they did provide deciles in the transcript, as they felt it was useful information for those applying at highly-competitive colleges.