Terribly regal, I gathered, monarch's ultimate Elizabethan gentleman (7)

I believe the answer is:

raleigh

I'm a little stuck... Click here to teach me more about this clue!

'elizabethan gentleman' is the definition.
Although both the answer and definition are singular nouns, I cannot see how they can define each other.

'terribly regal i gathered monarch's ultimate' is the wordplay.
'terribly' indicates anagramming the letters.
'gathered' is an insertion indicator.
'ultimate' says to take the final letters (the last or ultimate letter).
The last letter of 'monarch' is 'h'.
'regal' anagrammed gives 'raleg'.
'raleg' going around 'i' is 'raleig'.
'raleig'+'h'='RALEIGH'

Can you help me to learn more?

(Other definitions for raleigh that I've seen before include "old naval hero" , "Queen's favourite" , "Tudor explorer" , "Did he fetch tobacco" , "Courtier favourite of Elizabeth I" .)

I've seen this clue in The Telegraph.

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