Character names in games. Do you name them and does it matter?

[psychospacecow]

Just personally, I never really name any characters in a game if they have a predefined one. I remember that certain ps1 gameshark codes wouldn't work if you did rename them. Do you rename characters? If so, what do you base your naming on? Does it matter depending on the game?
Some people have personal names for their mmo characters. Others click random name until they get something that doesn't sound occult. How about you?