Name Origins
So why exactly did JKR name him "Cedric Diggory" anyway?  Most of the names she uses in the books mean something pertaining to the character, and Cedric's name is no exception.  Actually, I really like the name myself...I plan to name my son that, if I ever have a son. ^-^ Yeah, I'm obsessed...but then that means I can't name my daughter "Cho" because that would be a little weird...but anyway, here are a few interpretations I've heard for his name.
 
Cedric: of Celtic origin, meaning "chief".  Or, by a big stretch, maybe captain?  As in, Quidditch team captain?
 
This information is from What's In A Name, which is a REALLY good site...go, visit!  Anyway, according to this site C.S. Lewis had a character in "The Magician's Nephew" named Digory Kirke, who "has a firm sense of right and wrong and is a very good friend to have when the going gets tough.  However, he is also very strong-willed..."
Also brought up at WIAN, remember Ronan the Centaur from The Philosopher's/Sorcerer's Stone?  I liked him, I hope we see him again.  But this isn't about whether or not I like centaurs...anyway, in chapter 15 he said "Always the innocent are the first victims."  We _thought_ he was talking about the unicorn Voldemort/Quirrell killed, right?  Or possibly not...possibly he was predicting Cedric's death three years later?  Hmm...and he has a unicorn hair wand too.  Perhaps the death of the unicorn in the first book mirrors the death in the fourth book?  Or maybe I'm reading too much into it, but I don't think so.
And yet another fun yet somewhat useless fact from WIAN: "Avada Kedavra" is an Aramaic phrase meaning "may the thing be destroyed."  Doesn't that just add insult to injury, referring to your victim as a "thing" like that?  Now I'm really pissed off at Voldemort...
 
According to babynamer.com, the source of the name Cedric is "Cerdic", a Welsh name meaning "kindly and loved".  Isn't that appropriate?  In the US it ranked 390th in popularity, so it's not too common.  The name was created by Sir Walter Scott for the name of a character in the book Ivanhoe (I wanna read that book now ^-^).  Sir Walter Scott's Cedric is the owner of a hall where a competition is held (hmm?) and he and a woman named Rowena get captured.  Know who in the HP books is named Rowena?  Only the founder of Ravenclaw House herself, Rowena Ravenclaw.  Which perhaps is why JKR decided to make Cedric's, uh, girlfriend (I'm not a Ced/Cho shipper, as I've mentioned many times before) a Ravenclaw.
 
Analysis from kabalarians.com (my comments on the appropriateness of the analysis are in parentheses and italics):
As Cedric you seek change, travel, new opportunities, and new challenges. (challenges like the Triwizard Tournament?) Your active, restless nature demands action and you dislike system and monotony. As you are versatile and capable, you could do any job well, although you would not like to do menial tasks. Having considerable vision, you could be adept at formulating new, more effective ways of doing things. (again something a Quidditch captain does) You could organize the work of others (which is what being a prefect and team captain is), though in your impatience to see the job done efficiently, you would likely step right in and do it yourself. You could work well in sales and promotion, and would not be afraid to risk a gamble as the name gives you much self-confidence (nah, he only makes it seem that way). You do not find contentment in the routine tasks and responsibilities that are associated with home and family or with administrative detail in the business world, so you have to guard against frustration and even moods of depression over your personal responsibilities. The restlessness this name creates could find an outlet in caustic, irritable expression. Also, the intensity of your nature could result in tension in the solar plexus causing stomach trouble and, because you take your responsibilities seriously you could experience much worry. (that sounds like Percy, not Cedric...)
 
Some more fun stuff from this page, this is what Cedric's called in different languages!
Dutch: Carlo Kannewasser. *shudder* I really do not like the name Carlo, I've known far too many unpleasant people with that name.  Okay, three, but still!  Carlo really doesn't suit him.
Norwegian: Fredrik Djervell.  Okay, now Fredrik is not so bad...
Polish: only difference is that it's spelled Cedrik instead of Cedric
Portuguese: last name the same, only they call him "Cedrico"...which I think is kinda cute.
 
Now let's learn how to say Hufflepuff in different languages!
Norwegian: Hasblas, with a circle over both "a"s.  
French: Poufsouffle.  Hehe, that's cute!  Poufsouffle, Poufsouffle...teehee.
Italian: Tassorosso
Portuguese: Chafflpaff (I've also heard Lufa-Lufa...which is it?)
Finnish: Puuskupuh
Hungarian: Hugrabug.  Another cute one! *hugs a bug*
Czech: Mrzimor
 
Wow, there are a lot of different international words for Seeker...
German: Sucher
Dutch: Zoeker
Norwegian: speider
Swedish: Sokare
French: attrapeur
Italian: Cercatore (this is my favorite one)
Russian: Lowca
Polish: szukajacy
Finnish: etsija
Hungarian: fogo
Czech: chytac
Portuguese: Apanhador
Spanish: Buscador