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Perhaps this is limited to me or perhaps others also confuse these two names, but Holly & Heidi: if I have one name on my mind I even have difficulty remembering the other name: I truly like and admire each name.
I never stated that the g letter retains effects from great vowel shift - however it still bears effects - as does the letter J, as both for some time were partially confused with the curent "y", which even by modern analysis, partially functions as a vowel; still, I simply used the "vowel shift" as a placemarker in time amidst numerous characteristic ambiguities, many of which still occur today, despite our efforts for spelling standardization. I am uncertain of how sure you can be of an "original 'Old English' spelling", but rest assured, not even Bede would claim such precise knowledge among the vagaries of the early middle ages amidst the variables spread throughout sporadic locations. The more I learn in life, the more I realize how I little I know.
I pronouned (mis-pronounced) Hermione just as you stated - Hermione - Hermy-own. I like it better now that I know the common pronunciation - and still laugh to myself when I consider the sound of my former mispronunciation.
Yes - Prior to the Great Vowel Shift, the letter "g" frequently coveyed more of a "y" sound, as in the spelling of "right" - and the letter "h" which follows would offer a subtle sonority to imply assonation; however "gh" would also convey an "f" sound - yet we still frequently utilize the "gh" characterization for "f" as in the words cough, laughter, tough & enough.
Actually - I still have no idea how to pronounce "Siobhan", but I wish I knew and am interested in learning: I cannot find a phonetic spelling which clarifies it for me - and to think that I am of Irish descent, at least mostly!