For me, I try to have story titles that has a relevant meaning on several different levels. That's not always the case though. Having a memorable, catchy, and non-generic name is also a good thing to have in a title.
For chapter titles, there's a little more leeway. I prefer to reserve pun titles for chapters, though I still try to make sure that they're relevant to the chapter, and I try to have the title work on as many levels as possible. Sometimes they're one word titles, other times not.
Claimed: Grovyle - November 10th, 2013