I generally don't bother renaming my ships and planets. I will sometimes, but the 11 character limit annoys me.
Planets I'll just name randomly dependent on what mood takes me at the time. Some times it could be a Sci-Fi planet name, other times a name I've used previously in a story I wrote for fun, and other times just some random name that takes my fancy at the time, or that randomly popped into my head.
TEC Ships I'll generally name after great leaders or explorers [Explorers more for the Akkan's]:
Washington
Columbus
Napoleon
Caesar
Nelson
ect.
Advent... I leave as is. Their names are generally fitting enough.
Vasari, as Goa said, have there own language. I have no need to rename their ships.