I agree. When I come up with names, I'll usually look at the names of NPCs of that race to see if there are any common letters or sounds that are used. Orc names, for example, have a lot of hard sounds, while goblin names often use Xs, Ks, and Zs.

Because many of the races have real world analogues, you can also check out baby name lists for that culture. Undead usually have Victorian sounding names, while Dwarven names are often Scottish or Irish inspired.

Obviously this takes a little more work than just naming your rogue Stabface, but I find the results are a little less eyeroll-inspiring than most names you'll come across.

I agree. I don't like punny names.

No one would name their kids--or themselves unless they were an idiot--ImaStabU or some variant. (And by name themselves I mean as if the character was a person living in Azeroth and giving themselves a name to be known by, not the gamer naming their character in a game.)
I RP way too much to ever appreciate names like that.

Totally agree. Whenever I've made a new toon I've always tried to give it a name that is half-way believable. Thus:

Human warrior - Vankartae
Gnome warrior - Fitzwhistle
Night Elf rogue - Jarilian (previously Firian until a server change)
Human mage - Kaeleah
Worgen druid - Hawkesley
Dwarf hunter - Thorgrimell
Tauren paladin - Padwe

The one time I didn't spend thinking about a name, my Draenei death knight ended up as Vengaence.

I just want to point out that most human names (still in use today in various forms) have their origins as a descriptor of that persons profession or caste.

using descriptive names is far more natural than you think.