Certainly, I'll be open to questions. I'm helping Centurio with his Anabaseis, I can help you anytime as well.
See the quoted part for all the literal translations. Don't they make the exact same meaning? It really doesn't matter how you use it. Now, a more frequent way of saying, would be: Diodotos Sophos or Diodotos Sophos Baktrios.
To further understand this concept, you must understand that epithets were used for Hellenistic rulers in order to define them from others, in the same way we officially call Alexander the Great Alexander III, because he was the 3rd Macedonian King with the name "Alexander". The Hellenes, not favouring numbers, used epithets. So if you were talking about "Megas Alexandros" back that time, everyone (literally in this case) would know who you were talking about.
Answering your other questions now, first of all it goes more or less the same for the rest of the titles. It depends really, so feel free to ask if not sure. As for the reference to them, they would probably be called by their titles, so if say (your) Diodotos is Basileus and defeated the Parthians, he would formally be addressed or referenced as: Basileus Diodotos Baktrios "Nikesas Parthon", "bla bla bla". The "bla bla bla" part is the part were all his given titles are referenced. The most important one, the "Basileus" part, goes first. So basically he wouldn't be referenced by his epithets, only titles. And "Sophos" is an epithet, not a title. The reason why their epithets weren't referenced, us because sometimes they were not exactly good for their prestige, like "Monophthalmos" (The One-Eyed), "Epimanes" (The Mad) etc. How would you feel as Basileus to be referenced by your defections?
Epithets, thus, were only used to distinguish rulers after their deaths, not during. Formally, at least. Everyday people could probably use their epithets as well, be that for praising him or making fun of him
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