The name of a product is really, really important to the product's success. The reason that three-hour long discussions about it are frustrating that they aren't a good way to find a good name - all the names you've heard in the discussion blur together and it's not possible to "get" the quality of any uniquely good names.
A lot of design is like that - it is the art of just having a simple thing that "works". The simple thing seems easy but is really hard because you have to consider many factors but not do a simple compromise. It's also something that more less can't be done by a simple committee.