keep going—you are on the right track.
Dr. Type

Looks pretty good. Two quick things - do you think the transition between the round and straight parts on the U could be a bit smoother? And the leg of the R looks like it goes in a little to me.

Keep going.

Thanks Robert and Brian for your comments.
I won't give up on this.

/R/ is weird somehow, like it's not the same style as the rest of characters.
About /U/... need to rethink a little. I know what are you saying.

Just made something extra.

That new image looks great! With the R, what if you changed it so the leg is straight, and connects to the bowl instead of the stem? That would still keep the old American-ish and art-deco feel, but would probably make it fit better overall.

Hmm also the N might be too pointy. Think so?

Hm... all those sharp characters such as A, V, M, N, W are having the same height. Need to think about that a little. :)

/R/ and /K/ - you're definitely right about them. They look annoying and queerish a little.

What /K/?

:)

/K/ have the same leg as /R/.

Wanted to finish everything first and then to give the preview of other glyphs, but I dig the hole for myself by myself :)

It would also be very good to have an alternate B, since that structure wont work in every situation. Although, it definitely looks good on the "America Bananaman Panama" example from earlier.

Agree about alternative /B/.
Number /8/ is done on the same way as /B/.

For now, there will be 4 styles (Normal, Light Decor, Regular Decor and Initials).

This is a try to make something little bit different, maybe with more modern look, but it's going to need a lot of time to make something our from it. For now it's just a try.

OK, here we go step further.

I corrected /R/ and /K/ from previous versions, I think new versions fits better to whole typeface style and gives it a little "harder" look.

Just a small sample of Decor version:

New style coming up slowly - Passage Borders.

"Passage" font family just released:
http://typophile.com/node/77115