The raw 001 sent by psyBNC supplies the nickname of the active irc session between the bnc and the server, so it is not a matter of it misleading mIRC with an improper raw event. I took the liberty of logging in and connecting manually through a telnet-type client to verify this a couple of different ways.
For the time being I will trust your judgement, but I will continue to investigate the issue and I'll report back if I come to any further conclusion. For the record, this is not just an issue with psyBNC, and as I said before I don't experience it with other clients. I am not placing any blame on you Khaled (because you are right about it assuming what the client should receive), I am merely trying to work out a communication problem between 2 great pieces of software.