I started a band years ago. I thought for a long time about what to name it. The more I though, the dumber the names. One day we were practicing and we kept messing up and were getting discouraged and fussy. I said something like, "Bleep, we are never gonna get it working like this, were stuck at zero..infinitely". Then, Bam.. "Infinite Zero" was born. We never got much further than a few local shows but it was fun. After that i played in a goth/industial band. It was all cheesy image, the steriotypical "Sisters of Mercy" sound B.S. and with a pretty steriotypical cheesy name that I wont say because they still exist.
Basically, I think the some of the best names are ones you just pull out of your ... butt spur of the moment and not always the one you spend a long time thinking up.