1) Sometimes, when you know something and like it, you use "good old" as an adjective. When someone says "Good Old Tom!" it means the speaker:Originally Posted by Venesia2
a) knows Tom (perhaps since a long time ago)
b) likes Tom.
2) The same.
3) it is used when one event or thing reminds you of another event or thing in the past
4) I'm not sure, but I think the name is "Ole Blue Eye!!". Ole is something like "viva" or "Long live". But I'm not sure!!