some of the better names have been nicked from hip books, song lyrics, newspaper headlines, pieces of equipment and adverts. e.g
Steely Dan was.. .ahem.. a 'ladies accessory' from the book 'Naked lunch' by William Burroughs if I'm not mistaken.
Deacon Blue was nicked from a Steely Dan number
Frankie Goes to Hollywood was from a newspaper headline about Ole Blue Eyes.
'Echo' from Echo and the Bunnymen was the original drum machine.
Wasnt Rage Against The Machine taken from an Arthur Koestler book?