I pick some off the wall name that tends fit the bling, tho not always. Some names are standards, like:
New Horizons: colony ship
Skyball: sensor array
Merchanteer: trade ship
Constructor: obvious
Thief: anomaly nabber
And names like Python, Hunter, Predator, Big Spender, Walnut, Pancake, ect.. for the warships/defenders.
I am thinking about a new design that has a one engine limit and calling it the "frogboy" (wink. j/k)
I follow the name with the construction cost. This is an easy indicator of advanced ships. I can tell the Python 375 is more advanced than the Python 175. Having the cost shown also helps in deciding what to build on a paticular planet given it's production. I just put component details in the comments section to indicate the basic jist of the design. Like Mpd (missle/point defense), BS(beam/shield). Sometimes I will add that to the name when options are relatively equal and I need more than one set-up. IE: Python Mpd 775 and Python Bs 775.