It seems to be quite a complicated endeavor, at least for Traditional Catholics.
A few points to illustrate why it can be difficult.
1. Being traditional Catholic doesn't always mean your whole family is traditional -- or even Catholic.
2. What do you do if you have a big family, but don't have many eligible godparents to choose from?
3. Trad chapels can be small -- or at least small when it comes to fervent Catholics. Related to this point -- what about picking the "go-to man" at your chapel -- the prominent member/coordinator/etc. who is godparent to 1/2 the children at your chapel? Seems like he wouldn't have much time to remember or pray for your child.
4. Family -- those who ARE traditional -- can be far away.
5. Age -- you don't want to pick someone too old, or they will *likely* not see your child to adulthood.
6. Stability -- pick someone too young (who isn't married/settled down yet) and he/she might move across the country to start his/her career/life.
It seems like you have to choose between people you WERE/WOULD BE close to if they lived closer by, and those who are physically close by but aren't as "close". That is, unless you have close friends at your trad chapel, which many people find difficult to achieve, for whatever reason.
Matthew