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In mythology, Proteus is "A sea-god, the son of Oceanus and Tethys, fabled to assume various shapes" (Oxford English Dictionary Second Edition on CD-ROM [v. 4.0]). This is the perfect name for The Two Gentlemen of Verona's Proteus, as his feelings, loyalties and affections are infinitely changeable.
The name "Julia" is the feminine of Julius. More importantly, however, is the reference to Saint Julia, who was a noble virgin of Carthage, who was sold into slavery when the city was captured. Julia in this play is the (possibly) noble love of Proteus (virgin? ... not sure... need to look for that in the text during the second read-through); she later travels to Milan in male disguise and becomes the servant (slave) of Proteus.
The name "Lucetta" is short for Lucia, which is the feminine of Lucius, which means "light." Saint Lucia was the patron saint of the blind, ironically enough (given Lucius' meaning) and yet fitting (on numerous occasions Love is referred as "blind"). Lucetta provides for Julia the light of "reason" (II.vii.23).
Valentine comes from the Greek, meaning "strong, vigorous, healthy." Saint Valentine was Roman martyr, whose feast day was on the same day as Lupercalia (February 15), a fertility festival; this led to Valentine's Day being February 14. A Valentine is also defined as "A person of the opposite sex chosen, drawn by lot, or otherwise determined, on St. Valentine's day, as a sweetheart, lover, or special friend for the ensuing year" (OED). Our play's Valentine is a sweetheart and a lover... and also a "special friend" to Proteus.
In mythology, Sylvia was the mother of Romulus and Remus. The name "Silvia" is the feminine of Silvius, meaning "woods" or "forest" ... which is fitting as that is where our play's Silvia is escaping.
He's Silvia partner in escape from Milan in Acts Four and Five. He's also mentioned in Act One, referenced as a suitor of Julia (I.ii.9), but this is probably NOT the same man, and in reality -- as many critics surmise -- a mistake and missed revision by Shakespeare. In either case, the name is of note because of its second half: "amour" meaning "love, affection, friendship" (OED).
[I know what you're thinking: Ol' Bill's gone off the pier... he's lost it... he's obviously cut and pasted the wrong entry into the wrong blog... ]

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[uh, this would be why we can call the 16-month timeframe into question... a question I'm going to want to address at some time, just not today]... << MORE >>
My gracious lord, that which I would discoverCheck out the big irony on lil' Proteus: "law of friendship"... "your gracious favors // Done to me... My duty" (right, after less than a day, sooooo many favors) ... "Thurio, whom your gentle daughter hates" (nothing like throwing all the competitors under the bus)... "vexation to your age" (just looking after you, OLD man). It's a pretty masterful speech... wonderful if it weren't so deceitful. The Duke is thankful--having suspected Valentine in the past, having "oftentimes... proposed to forbid // Sir Valentine ... << MORE >>
The law of friendship bids me to conceal;
But when I call to mind your gracious favors
Done to me, undeserving as I am,
My duty pricks me on to utter that
Which else no worldly good should draw from me.
Know, worthy prince, Sir Valentine, my friend,
This night intends to steal away your daughter:
Myself am one made privy to the plot.
I know you have determined to bestow her
On Thurio, whom your gentle daughter hates;
And should she thus be stol'n away from you,
It would be much vexation to your age.-- III.i.4-16