I already know where it comes from (well, not exactly, but I know the general vicinity of where it came from) and what it means, sorry. That already taints my opinion a little, sorry.
But, I can say that I've never quite known how to pronounce this name. a-LUCK-ard? a-LOOK-ard? AL-u-card? AL-ook-ard? So I can see some pronunciation problems there. Other than that, the name looks nice enough--kind of medievalish, which I like.
Oh, and it should go without saying that I wouldn't use this name on my child because of its origin.
Miranda