For a long time I've gone with variations of my username
Hogbobson <- Main
Hoglockson <- Warlock alt
Hogbankson <- Bank alt
But I do also like proper fantasy names, and I might go back to that model for classic, for immersion's sake. My first warrior's name was Regg, and that stuck with me for a long time. I was also ecstatic when I met the druid who bore the name Reg - we definitely did not fight to the death. :D
A couple year's ago on a TBC server I had a tauren Warrior named Cortept. Anagram for protect. I was quite proud of that one - it's a plausible sounding name that also satisfies my closet linguist. <3
90% of the time I choose a lore-ish name that suits both my class and race; over time I have opted for making them easy to pronounce and remember for the sake of TS communication etc.
For the upcoming retail Vanilla servers I am probably going to go with something slightly out-of-place, such as "papapriest" or "wildshot" (for a hunter), or "tinyblast" (for gnome mage). bc why not ;P