I like generic more. It actually kinda take me out of the game when I read a troop name I don't understand. Especially since its generally just a translation of a generic word like knight, chevalier, caballero etc...
Some untranslatable name can be tolerated, especially for high tier troop and if there is no clear translation or if they made it to the English language. Cataphract, huscarl and the likes of them.
Anyway that's my opinion