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Default Cell won't take name 'AP1'

I have a table with monthly and annual payments for several years.

I named the cells in the monthly payment column MP1, MP2, MP3, etc.
This works fine.

When I tried to name the cell for the first annual payment to AP1,
Excel jumped way out to cell AP1.

I couldn't find this in the help, but it appears that I cannot use a
name that is a valid cell reference. Is that correct?

A little more research indicates that what Excel considers a valid
column name is A to IV. It will not allow me to name a call IV1, but
it will allow IX1. That's why it allowed MP1.

Is this correct?

Are there any other quirks?

--
Running Excel 2000 SP-3 on Windows 2000
 
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