origin of penguins

i was informed today by my welsh friend rich that the word penguin is actually welsh. i had to do some investigating on wikipedia:

Penguin is thought by some to derive from the Welsh words pen (head) and gwyn (white), applied to the Great Auk, which had a conspicuous white patch between the bill and the eye (although its head was black), or from an island off Newfoundland known as "White Head" due to a large white rock. This may be, however, a false etymology created by Dr. John Dee in his book on Prince Madoc of Wales, supposedly one of the discoverers of America. By this Dee hoped to cement Queen Elizabeth I's claim, as a Tudor, to the New World. Penguins live nowhere near Newfoundland, nor do they generally have white heads, but they do look remarkably like Great Auks in general shape.

According to another theory, the original name was pen-wing, with reference to the rudimentary wings of both Great Auks and penguins. A third theory is that penguin comes from the Latin pinguis (fat). This has added credibility because in two other Germanic languages, Dutch 'pinguïn' and German, 'Pinguin' both have the 'i' vowel too. While it has been replaced by an 'e' in the English spelling, it can still be heard. By simply looking at the word's pronunciation and comparing that to the Dutch and German words, one could assume a common Latin root - after the first Germanic sound shift (500-200 BC) that makes a PIE 'p' into a 'f'. However, a Welsh 'i' is often sound-shifted to an 'e' in the English language, so a Welsh origin cannot be dismissed.