I'll preface this with Ticats telling us that the United & Steelers were names that they wanted to trademark, but there will be a name contest so we aren't limited to just Steelers or United.
Speaking specifically to Steelers, I expect there to be more young fans in the stands then those who saw the old Steelers play, so I don't see that being something they identify with. Since the Steelers went under steel has meant less and less to the city. Its still the largest private sector employer, but that decreases every year and if the name means less than it did in the 80s it will mean far less 20 years from now.
For me I'd like a name that is more representative of Hamilton and that means getting away from a declining image of Hamilton.
AC Hamilton is a neat idea. Hamilton Argyle was another one thrown around at a prior meeting that I liked. Regardless, I think when the Ticats have their team name contest/vote it will say a lot about 1) the people who will be going to games 2) How Hamiltonians really view the city.