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peerIdentity appears to be relevant to WebRTC, but has no compelling usage in the context of media capture. Recommend removal of this feature in this spec. This would entail removal of Sec. 4.3.6 and removal of peerIdentity in Sec. 10.2.1 (with respect to Editor's draft dated 07 May 2014).
This seem to be fixed in the July 4th version (http://dev.w3.org/2011/webrtc/editor/archives/20140704/getusermedia.html). Closing as "resolved, fixed".