Among upper-class Americans in the late XIX Century it was common for the male firstborn to bear the mother's maiden name as his first name -- esp. if the mother's own father was rich! Think how your mother's maiden name would sound as your first name! It works with WASPs but that's about it.
I always liked that tradition. But, like you said, only with WASP names.
(We've done it in our family)
We go to a very old, old-family Episcopal church in Northern Virginia. Some Sundays, a pink or blue bow will be on the front door of the church to announce a new little member, and my husband will say, "Oh, look, we had another little law firm. Taylor Johnson Boardwell - they do all my tax work."
It is traditional in my family that the first born take the name of the paternal grandparent of that sex, the next, the maternal -- alternating, when possible --- and only not doing that if you'd end up with a "Junior," as it was considered bad form to name a child after yourself.
Only on No. 5 (or earlier, if heavier on one sex) are you free.
The maiden name of the mother is also usually the middle name of the sons and the mainder name of the paternal grandmother the middle name of the sons.
We have a friend who has been called "Brother" since he was a baby. His wife says she gets funny looks when she introduces him as "my husband, Brother."
What's WASPs? BTW- I wouldn't mind TOO much. I'd be Smith.