Is the common wisdom about pen names true?

One of the ongoing debates in the publishing world is whether or not you should write under different pen names. I have heard of two arguments for using a pen name. My question is, are these arguments fallacies?


1. Fame don't get me down

The standard wisdom is that famous authors use pen names to test their writing gumption without the trappings of fame. Basically, if their talents show through even though you have no idea who the writer is. The most famous example of this is JK Rowling writing under a pseudonym. I suppose this is an ego check for famous authors.

2. Don't confuse the readers
Another common refrain is that readers want predictability from their favorite authors. They read a certain book because there is a certain name on the book. For example, people read Stephen King because they predict the horror novel genre. The underlying premise of this argument is that readers have a comfort zone and asking them to step out of it threatens fan loyalty.

However, aren't we are writers in a new world since the land of uber-writers? Yes, there are going to be super mainstream American famous writers, but the old publishing model in which major publisher's had a strangle hold on marketing to writers is crumbling.

Just recently there was news that the last vestiges of BIG BOX PUBLISHING, Barnes & Noble was closing their storefronts. Amazon is now the new way of the publishing world, and e-publishing in general is not just the wave of the future--it is the here and now.

Publishers aren't going to be able to rest their laurels on common wisdom. So, as writers, should we? Should we believe that our reputations are separate from our talents? Is there anything such as pure art if you don't have an established marketing base or lots of money to throw at promoting a project? Do we have to coddle our audiences and only give them what to expect? Or is smart, challenging and thought-provoking writing a genre in itself?

These are all questions that are guiding my developing my craft and thinking about my publishing trajectory.

What are yours?