Trying to decide on baby boy name

My husband and I are trying to figure out what to name a son, his first name will be George, after his dad (a family tradition), but he is going to go by his middle name. We both LOVE the name Flynn, which is another family name from my husband’s side of the family, but I can’t help but think I should honor my late grandfather, Ray, by using his name instead of Flynn.

I tend to do alliterative Nick names for my kids, my first is Penny (I call her Pen Pen), then my youngest is Bonnie (Bon Bon), but I feel weird calling him Ray Ray because that was my nickname that I knew/called my grandfather by up until he died. He was a great man, and honoring him would mean so much to my mom, but like I said I really love Flynn too.

Thoughts?

George Flynn or George Ray?

Go with what we love or honor a great man?