Sounds good, but sadly not correct. There is a pub called the "Lower New Inn" in New Inn, but there's no connection. In fact, the station was only renamed from Pontypool Road in 1994.
Just to add a few more to my own thread, while talking of South Wales, how about:
Cross Keys, on the Newport-Ebbw Vale line.
Six Bells, on the nearby Aberbeeg-Brynmawr line.
Travellers Rest, on the Pontypridd-Merthyr line.
and Red Lion Crossing Halt, on the Pantyffynon-Gwaun Cae Gurwen branch.
Meanwhile, in West Wales, there was Crymmych Arms, on the Whitland-Cardigan (Ceredigion) branch.
In Mid-Wales, there was Seven Stars Halt on the Welshpool & Llanfair Railway and just over the border in England, there was Tram Inn (still a signalbox and the pub's still there) between Abergavenny and Hereford.
Lastly, on the venerable Stockton & Darlington line, there was Fighting Cocks.
Keep them coming folks - there must still be quite a few more!