I believe the name location is not cutomizable and will almost always come out above or below....not beside it.
On my side-tabbed dock, the names come out on the side. 
Roger, for starters, make sure that, under the "Size & Appearance" tab that you have Entry Names set to "Show on Mouseover."
Then, Under positioning, try setting the dock as a drawer, set your mouseover activation speed. Make sure "Tabs always on top" is unchecked, and choose the "Don't show in tray or taskbar" box.
Then report back. 