It'd be neat if, by default, the unit name was created something like this:
<Nation> <Unit Size> of <Training Level> <Armor Level> <Weapon> <Iterator>
E.g. Yngland's Company of Elite Heavy Spearmen IV
Or, perhaps something like:
<Iterator> <Training Level> <Armor Level> <Weapon> <Unit Size>
E.g. 4th Elite Heavy Spear Company
How about letting the player to decide it. The idea is to have an option in the options, where the unit name can be altered. Tags such as <Training Level> will be there and they will be replaced after design. If I think about the above article, I suggest these tags:
training - recruit, nothing (standard), veteran, elite
armor - light (no armor or leather), heavy (plate mail etc.) or medium (other)
mount - the mount (horse, wolf, bear...)
weapon - he weapon type
unit type - infantry, cavalry, archers, sappers, scouts... There may be a combination (in some XML or somewhere) - weapon type + armor + mount, that specifies the unit type, such as axe+no mount = axeman, sword + heavy armor + horse = knight....
special - magical items and such things will be here
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If I think about it, it would be nice, if you can use similar tags in the unit name. Those tags could be interesting:
city - the city, where the unit was trained
race - the race of the city the unit was created (races are not in the unit designer, however the city, where the unit was trained is supposed to specify the race)
size - 1 = nothing, < 10 = squad, < 100 = army < 10000 legion etc.