After all, a man would be happier to have been named Night than Daughter.

Likely totally unrelated but Elza's Darkfriend Warder is named Fearil.

I don't think it's possible to work out the meaning of the names from the few Old Tongue words we know. The names are probably more complex than just words put together. To snatch a totally random example, the name of Aragorn's sword in the Lord of the Rings, Andúril, is a combination of the words andunë and ril, but the combination isn't "andunéril". Who's to say that a name like Lanfear hasn't had a few letter changed? Perhaps it should be Laghnfëöarr, but that doesn't really roll off the tongue...You get the point?

I find linguistics pretty interesting, even though I don't actually *know* much about the subject.