The Name of the LORD

Why is God's proper name written as LORD in the OT? Is there anything wrong with saying the LORD's name, Yahweh (or Jehovah)?

From The Journey from Texts to Translations, by Paul Wegner:

"(YHWH was not written according to its true pronunciation) because the Jewish people did not want the name of their God to be taken lightly, as the third commandment states: 'You shall not miuse the name of the LORD your God, for the LORD will not hold anyone guiltless who misuses his name' (Exod. 20:7).....The scribes reasoned that if they did not point the name Yahweh then it could never be treated lightly since his name would not really be known."

YHWH was never spoken by Jews, they said Adonai (lord) instead. This was expressed in the translation of the Septuagint.

I'm personally a fan of using a transliterated version of YHWH, even in English Bibles. The reasoning expressed in Wegner's explanation strikes me as almost superstitious, and completely missing the point of the third commandment. We say the name of Jesus, why shy away from also saying Yahweh? Most people have never noticed the difference between LORD and Lord in an English Bible, and as a result they lose something rather significant in reading the OT, and also probably miss many of the NT pointers to the divinity of Christ (Rom 10:13, Mark 1:2-3, for example). The word for God in Hebrew, Elohim, is similar to our word for God, that is, it's generic. It can mean God or god. The word Adonai (lord) is similarly ambiguous. YHWH, on the other hand, is a proper name.

There is the issue of pronunciation. No one can be sure how YHWH is supposed to be pronounced because the vowels were lost along the way. I think it's safe to say that the first vowel should be an /a/ as in Father, because we have many other words in the OT that use the first two letters of YHWH and always pronounce is "Ya". Hallelujah, for example, which means praise YHWH, "Hallelu-Yah." In any case, I don't think it's a huge deal whether we pronounce his name correctly. We don't worry about it with any of the other proper names in the OT.

For a people who have never heard of the Christian God, they will doubtless have their own word(s) for God/god, words that are probably as ambiguous as our word "god". I believe it is tremendously helpful and important for them to learn a specific name for the specific God who they are to worship as The God. The Chinese Bible uses Ye He Hua (transliterated form of YHWH) for YHWH and Shang Di or Shen (generic word for God/god) for God. This is the way that I'm inclined to go as well. When a Chinese person picks up the Bible and reads the name Ye He Hua they will say, "Who is this?" But as they keep reading they will learn who this God is and the name will take on definition naturally.