Merged the two if's together as suggested by @philsturgeon - updated the Changelog to include something that may be important
diff --git a/system/libraries/Cart.php b/system/libraries/Cart.php
index 13485a3..f9f3bca 100644
--- a/system/libraries/Cart.php
+++ b/system/libraries/Cart.php
@@ -196,13 +196,10 @@
 
 		// Validate the product name. It can only be alpha-numeric, dashes, underscores, colons or periods.
 		// Note: These can be user-specified by setting the $this->product_name_rules variable.
-		if($this->product_name_safe)
+		if ( $this->product_name_safe && ! preg_match("/^[".$this->product_name_rules."]+$/i", $items['name']))
 		{
-			if ( ! preg_match("/^[".$this->product_name_rules."]+$/i", $items['name']))
-			{
-				log_message('error', 'An invalid name was submitted as the product name: '.$items['name'].' The name can only contain alpha-numeric characters, dashes, underscores, colons, and spaces');
-				return FALSE;
-			}
+			log_message('error', 'An invalid name was submitted as the product name: '.$items['name'].' The name can only contain alpha-numeric characters, dashes, underscores, colons, and spaces');
+			return FALSE;
 		}
 
 		// --------------------------------------------------------------------
diff --git a/user_guide_src/source/changelog.rst b/user_guide_src/source/changelog.rst
index 7110441..eda64e7 100644
--- a/user_guide_src/source/changelog.rst
+++ b/user_guide_src/source/changelog.rst
@@ -48,6 +48,7 @@
    -  Modified valid_ip() to use PHP's filter_var() when possible (>= PHP 5.2) in the :doc:`Form Validation library <libraries/form_validation>`.
 	 -  Added custom filename to Email::attach() as $this->email->attach($filename, $disposition, $newname)
    -  The Cart library now auto-increments quantity's instead of just resetting it, this is the default behaviour of large e-commerce sites.
+   -  Cart Product Name strictness can be disabled via the Cart Library by switching "$product_name_safe"
 
 -  Core