Indeed, the holy roman empires name could not be more misleading. It was closer to a ramshackle confederacy than an actual empire. Regardless, it still had an *ahem* "Elected" Emperor... And it is very notable, being one of the top powers in Europe at one point. Maybe the Roman Kings would be a better example, seeing as how they were elected by the senate at one time. 

As for the ceremonial monarchy, I'm a Royalist who believes that the Queen is a symbol of unity and would rather my country stay a Constitutional Monarchy. To nick a saying, if it ain't broke, don't fix it. Having a monarch whose pretty much just a ceremonial icon at this point is fine by me, in some ways I think its quite a nice thing to have and regardless of how many tourists mistakenly believe that she dictates my life I'd rather have a monarchy than a republic, if I'm honest, I view the monarchy as more of a source of pride. Figures say she makes more than she costs, so its not like she isnt paying her way... Plus "United Republic" just sounds a bit silly really...