But, why or why did they pick Deep Throat for a code name? I would venture to say the only deep throat most people knew or heard of was Linda Lovelace.
Supposedly because he was their "deep background" for information.
Don't forget - the movie "Deep Throat" was at its most popular time when all this was going on with the Washington Post and Watergate.
I recall Woodward once saying that the codename "Deep Throat" was a direct reference to the movie, and as SC said, it involved deep information.