When I think about Toad, I think back to my fourth year of Latin in high school. Back then, we read "The Aeneid" in the original Latin. The bottom of each page was filled with dictionary definitions for less-frequently used terms. It also included all proper nouns, since they wanted to be sure the student would be able to keep the characters straight.
The hero of "The Aeneid" is, of course, Aeneas (for whom the book is named). In that story, there is a character named Achates. At the bottom of every page where he is mentioned, the dictionary listing said, "Achates: Faithful companion to Aeneas".
Toad is the Achates of our story. I'll bet you didn't know we got all classical-lit up in this here comic.
Kirk and Spock, The Doctor (name one) and his Companion, Han Solo and Chewie, Dr. Sam Beckett and Al... the list goes on and on. For every great hero, there's a main man (or gal) he relies on for support.
When the fur starts flying, Speedball can always count on Toad for backup.
PS - I also wanted to name this character Arcadies in a nod to the classics. If you agree, bug Jim. He totally is in love with the name Toad. :)