What about research to determine to what extent usernames with words in a certain language will tend to use passwords with words for the same language? (More generally, is there any connection between the bi- or trigram distribution on usernames and the one on passwords? In fact, do they just look the same, or could you tell given a string whether it's more likely a username or a password?)
Do usernames of people with weaker passwords have something in common? How do they differ from people with stronger passwords? In France there is a practice of picking names like "foobar42" or "foobardu42", where "foobar" is a first name and 42 a "département" (country subdivision) number, which I would associate to casual users. Here I could quantify whether people with usernames of this form tend to pick weaker passwords. Insert your favorite prejudice here about lame and skilled username patterns, and quantify how the password diversity of this group fares in comparison with others.
Is it true that the most common passwords were associated to usernames that were also common? Does username frequency correlate with password frequency? Are there more people with unique usernames or people with unique passwords?
In some countries it is customary to annotate usernames with the user's year of birth. Filtering on such usernames could give insight about the correlation between age and password quality, or identify which passwords are more or less popular given the user age. You could try to check correctness of the filter using the fact that some of those people may have used their birthdate (including the year) as a password.
If a seemingly rare password in the dataset only occurs for two distinct user names, then maybe those two user names actually correspond to the same user. Do such usernames have a low edit distance? Could you use this to learn general rules to determine, given two usernames, whether they seem to correspond to the same person?
I just gave those off the top of my head, and I'm not at all working in this field, but I'd have no trouble imagining interesting applications for this data that would not have been possible with the passwords alone.