A lot of people are wondering why they appear as "Sharepoint System" (SHAREPOINTSystem) in SharePoint instead of their user account info. This is not as complicated as it seems. If you are displayed as SHAREPOINTSystem, it means you are logged in using the same account specified as the application pool identity during the creation of the web application. In addition, this should also generate a number of errors when browsing the web application.