Yes, I am exited.
If it is a girl, how many British tabloids will be calling her Princess of Wails? Will the number be higher if she is named after her grandmother Diana?
HRH the Prince(ess) ____ of Cambridge. (Fourth in line to the thrown, heir apparent, to the heir apparent of the heir apparent)
Wales is a life peerage, in effect, and a new prince(ess) is created. There has never been a Princess of Wales, as such.
Boy: Phillip or George (I'd bet George)
Girl: Victoria, Elizabeth, or Alexandra with Diana as a middle name. I would expect Diana to be in there.
There would be no numbers until the baby rules. Yes, it is possible that this baby will be on the throne is 2101, holding a grandchild.
Note that is entirely possible for a sovereign to chose a different regal name, as Edward VII was Albert.