Len - Why don't we wait until you know whether 4 or 5 person teams work best for you in PSL5.
If you go with 4 man teams, we could always call ourselves "We Want Tim" or "Free Tim Now" or "The Team without Tim" :)
Or "the team formerly known as Team 1, until Len kicked Tim out"
Not sure I want to be on the only team with a name. Talk about having a target on your back. Maybe we could take a page from The Far Side and call the team "Bummer of a Birth Mark, Digi".
Don't see any reason why other teams could not have names, only problem seems to be picking a name before you know who is on the team. Just an administrative issue--depends on how much additional admin hassle you want to take on.
Anyway, "Team 1" has been lucky for us.