I always thought Spencer Spencer was loosely based on Larry Flynt the publisher of Hustler and other highly explicit pornographic material. He was (is?) in a wheel chair after someone tried to assassinate him. He became (in)famous after publishing pictures of Jackie Kennedy Onassis sunbathing in the nude taken by a Paparazzo sometime in the mid 70s. He has always seemed much more seedy than Hefner to me. Playboy seems pretty tame compared to most of Flynts publications.
Not sure where the double Spencer name comes from. Maybe similar to Durand-Durand, the villain in sexually-themed movie, Barbarella? And, yes, the band Duran Duran was inspired by above character name.
AmyN
