Picking a Good Product Name

Matts asks: "I've recently embarked on a project - no details yet - but I'm wondering how to go about picking a good name. The key things that are important are: memorable, meaningful and availability of a domain name. I'm having real difficulty with that last criteria due to the vast dearth of good domain names. So I'm thinking of resorting to non-dictionary names or acronyms (following the example from Zope, Zend, PHP, etc). The question is - how do I pick a good product name?" We've recently touched on what you all think about the current crop of Open Source project names, now give us some ideas on how to choose good ones!