The direct association will probably die off in ten years or so, maybe less. New generations will always be reading
Harry Potter, but it won't be the frenzy that it is today. Right now, if you named your baby
Albus, almost everyone would make a Dumbledore comment. In ten years, not so much.
I'd say
Albus and
Gandalf are a little different.
Albus is an ancient
Roman name, while
Gandalf is named after a dwarf in Norse mythology. I would be much ore surprised if I met a person named
Gandalf! On the other hand, I think
Albus is old-fashioned but rather "normal" sounding as far as names go.