Despite unfortunate opinions like these, I think Margaret's day is due. It's the name of queens, saints (including one called Margaret the Barefooted), and prime ministers. It sounds upright, impeccable, and strong. It's nickname selections range from spunky to super-cute. Consider:
Mago (pronounced MAH-go, I think)
And if Margaret's not your pace, how about it's international variations?
And, if I haven't mentioned it before, Margaret is my very favorite name.