I was just browsing through the Encyclopedia Mythica (not related to the game at all) and did a search for Connacht. What came up is that Connacht is a province in Ireland ruled by a half-breed king (half fomorian, half Child of Danu) named Balor. Another thing in celtic (well actually only Irish) myths is the Firbolg. They seem to have been invaders into the fomorian lands, but were subdued. Their name translates in Gaelic to "bag-people."
Not that this actually clears anything up, it's just an insteresting tidbit.
-Discordia
