What are best practices for creating node relationships?
Your best bet for this kind relationship is going to be Taxonomy. You can create a free tagging vocabulary (exactly like the vocab that is initialized with the Article content type in a standard profile D7 install) and as these "Authors" come up with a need for a "Pseudonym" you just tag that node with it's term.

Views supports most every use case (if not all) you can imagine working with Taxonomy.

Because Taxonomy is core it's further developed and easier to use than alternative relationships (references, hierarchy, etc).

For the above example, you'd could configure the view to display all (full, teaser) or part (fields) of the "Author" content type based on being tagged with the relative "Pseudonym". Views are a little daunting at first but if you keep playing with them, you'll soon realize their immense capability.

Just comment if you need clarification on any of the above...