Read this article by the 37Signals folks and whilst I agree with them 99% of the time, I’m just not feeling very agreeable today…
See, I can agree that an obsession over a product name isn’t worthwhile as that time could be better spent doing stuff (i.e. developing your web app) that will create a bigger return on your investment / effort.
But the thing is, those product names become your brands too, which means you do need to put some initial thought into how you want to brand, market & position those products. If you go with a shitty name from the start (because you’re taking the approach of not obsessing), then it’s definitely gonna limit the space you have in which to tweak & market in future.
In the end, it comes down to finding a balance in terms of the things you spend your time on. So do spend time on deciding your product / brand names, but don’t be overly anal either as that is just valuable time being lost…