I love Penelope and I would consider using it in the future. It goes well with a lot of names. I like Penny and you rarely hear it, which I like. Some of my favorite combos:
Penelope Alexandra
Penelope Amalia
Penelope Anastasia
Penelope Angela
Penelope Charlotte
Penelope Christine / Christina
Penelope Elena / Helen / Helena
Penelope Eugenia
Penelope Iris
Penelope Josephine
Penelope Larissa
Penelope Maia
Penelope Maria
Penelope Marina
Penelope Renata
Penelope Sophia
Penelope Theodora
Penelope Victoria
Penelope Margaret
Penelope Agnes
Penelope Antonia