I think Blue Streak is a cool name, if you look it up, it means something that travels fast, and I am guessing 45 MPH was a pretty descent speed back in the 60's.
Another name I really like is Corkscrew. Sure, its not original, but what else would fit it?
For the worst named coasters I have a tie:
Millennium Force (I am sick of Millennium stuff, coaster not included!) & Woodstock Express, just not too catchy.