The Randomainer domain name generator is a new tool developed by the team behind MakeWords.com. Randomainer uses a unique approach to create short, brandable and pronounceable names with available domain names. Their word proximity analysis returns a list of semantic relations to the keyword of your interest. These related words are then taken apart and mixed up, resulting in phonetic words that are then queried against the Whois database. Visit www.randomainer.com to find out more - its free.
Interesting idea, most of results seem to just be junk. Maybe put in some sort of pronouncability filter? Allow ony certain consonent-vowel combos, etc. Just a thought.