Sharon, I like the solution you've adopted. I agree that putting names in the AKA doesn't do much for clarity, even if it helps the searches.
Erica, the name he's "most commonly known" as depends on when you went to school. Older people will say "Martel". Younger people will say "the Hammer". I have dozens of books about this period. In general, they all give both names but the newer ones use the newer standard.
Judy and Michael, I know. Don't you just hate it when you log on to a genealogy website and people are talking about names and dates and history and stuff? ;)