That will rename the administrator account to another name.  The profile name will stay the same.

The workaround is to create the account you want to use.  Log on with that account to create the original profile.  Then log off.  Create another account with administrator rights.  Then use system properties to copy the original administrator profile to the account you want to use.  Then delete the original profile.

Be advised.  It is against all security principles to use an admin account for normal day to day activities.