Apart from the Terminator himself, known for catchphrases such as "Hasta la vista, baby" and "I'll be back", the name itself (in England, at least) otherwise reminds me of a marrow-loving old grandad with a pipe in his mouth and going to the Salvation Army somewhere in England.
It is also the name of English playwright and actor Arnold Ridley (1896-1984), who played Pte. Godfrey in Dad's Army.
Other famous bearers of this name, besides Messrs Ridley and Schwarzenegger, include British playwright Arnold Bennett (1867-1931), British composer Sir Arnold Bax (1883-1953), the two Arnold Toynbees who were uncle and nephew, and American golfer Arnold Palmer (b. 1929). The younger Arnold Toynbee (1889-1975) was a British historian.
Site says from German, 'eagle' -- RIGHT. Plus 'wald' for power. -- WRONG. Wald in German means forest or woods. Arnwald means eagle woods. There are places in Germany and Austria with exactly this name.
Arnold Schwarzenegger has utterly ruined this name for me. He's the only Arnold I can think of, so the name is ruined. I hate the silly nickname Arnie too.
I don't like any of the names that end in ld - Arnold, Ronald or Donald. They sound wimpy and old fashioned. Also, unfortunately too many of they have been associated with cartoon characters.
A famous bearer of this name is Arnold Rothstein, known for his gambling and notoriously conspiring in baseball's Black Sox Scandal, where in 1919, the World Series was fixed.
He is also a character played by Michael Stuhlbarg, on Boardwalk Empire.