Tinkering: I think it's a good idea if it's subtle. Like not the middle one, more like the bottom one, but only in one place. Try doing the "g" - maybe make a monocular form.

Spacing: close up the "gra" and "at".

BTW, I would use a darker red, like vermillion.

hhp

I like the "g" idea, it would help the word sit on the baseline if it had a monocular G, plus it would through something cool into a typeface that is super hot right now.

Aaron

Just playing around with Photoshop...

RE: "Clarendon Light seems appropriate for the word as well as the target market"

As you have stated, I think your type selection is appropriate for the word, but I am partial to Clarendon, having used it for my own logotype:


What is the target market?

The "a" in version 3 is a nice form, but I don't see how it relates to the rest of the type. If you pursued that letterform, you'd have to work the other letters also. It'll take some work, but I think you can make some nice, unique logotype.

Aloha!
Scott

I was typing while others were posting.

I like that "g" idea. I even like that "g-r" ligature. The "g-r" might even serve well as an element to carry through other promo pieces.

graphic design
make the grade
corporate grammar
communicate with gravity
the greenroom (instead of the war room)
groovy