So I stayed up until 4am last night trying to come up with a cool logo, and if you look in the upper-left corner you'll see what I devised. Not satisfied with merely one new image, I created a few pics for the permalink/comment/trackback controls as well (inspired by Samizdata).
Eh. I like them now, but I may get tired of them soon. We'll see.
Err.. did you perhaps mean upper-left?
(I guess that's what happens when you type at 4:AM.)
By way of criticism, I would just suggest that perhaps the portion of the image being viewed in the magnifying glass should be enlarged and made clear. This would make the logo more analogous (sp?) of what you do with your blog- bring focus and clarity to the subject at hand.
I like it, Michael.