A lot of traditions don't make sense in the context of the modern world, but Charles is such a traditionalist that that might not matter to him. He may feel it more important that the Prince of Wales title carry on (especially in the hope that the Princess of Wales title gets to be associated with someone other than Diana) than for 21st-century reality to be taken into account. He hasn't shifted himself very far to pay attention to the Welsh - he could have bought his country house in Wales when he was young but he bought it in Gloucestershire, and he seems to be far more interested in his position as Duke of Cornwall. But I somewhat doubt that that will make much difference when it comes time to decide whether to create his heir Prince of Wales.
One thing that does interest me is whether, when Harry gets his dukedom when he marries, it'll include an Irish title. Prince Andrew's did, but Prince Edward's didn't (or a Scottish one, for that matter). Given the way feelings have run so high for so long about the Irish question, I wonder if they'll be phasing out Irish titles as subsidiaries to royal dukedoms.
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