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In terms of ____, I think it is meant to imply that the person is rich and powerful, and that using their real name could be dangerous. You often see this when some piece of reputation-destroying gossip is being delivered. For example, "Lord ___ was seen leaving the bawdy house last night." It protects the author and publisher from a libel suit when the person is real. I think it also has the advantage of aging well over time. If you read a piece from 200 years ago, you get a better sense of what the gossip means for Mr. ___ rather than for some real person who has been largely forgotten.
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