Sorry if I will be a little telegraphic.

It’s too busy. Drop the "100 FEET". Why the "1"? Why there?
Always start in black & white, then add colour.

Thanks riccard0

This is an image of a standard altimeter:
http://www.recreationalflying.net/tutorials/groundschool/altimeter1.jpg

The "1" instead of "I" is to make a connection between the altimeter and the name. The arrow of the altimeter would point the "1" when flying AMILPIES (at 1000 feet)

The choice of colours helps establish this connection, although for a pilot or anybody involved in flying the connection would work even in b&w, I'd say.

I'll show you other options.

Some quick mockups of the same idea to explore how much can I simplify before it starts to look like a clock or a bathroom scales

You say "1000 feet" in Spanish and "100 feet" in English...
Are pilots the intended target? If so, they will recognise the altimeter even without words and numbers.
If the "1" stands for "1000", why not replace the first "I" (the "MIL" one)?
Even better, why not insert it in the "M"?

Also, as reference for other possibilities: http://www.typophile.com/node/74958

Nice input. I'll try to adapt this approach to a new version.

Playing with your suggestions:

Don't really like it. Maybe I should give them another try.

And playing with the second idea. I like this one much more, though I'm afraid is too close to the example you showed me.

I guess the last one is simple enough to guarantee a good reductibility.

I think you still have too much going on. Choose the 1 or the tick marks. In this last version I am reading 'a mil pies', but maybe I am just hungry for lunch.

AMILPIES is the name of the company. So it's ok if you read that. In spanish you wouldn't eat one of those in a normal situation ;-)

I tried to get rid of one of the tick marks, but the #1 is related to them (see picture of a real altimeter above). So I ended with another approach, let's see what you think about

That's too close to the "1 million" logo. I would just drop the idea of making a 1-lower-case-m monogram and investigate other options.

I agree the result is close to 1 million logo, in fact it's been the source of inspiration when riccard0 showed me.
However what I try to achieve is (without ripping-off anyone else's logo)

a) an altimeter pointing to 1 (1000 feet = amilpies)

or

b) construct a number 1000 with the 1+m

I have polished the last idea to make it clearer

There's really no way to go in the direction we've seen as of recent without ripping off the 1 Million logo.

But if that weren't enough to convince you, I'd have to ask if it even makes sense now to have a 1 after "a?"

This is no longer the word you want us to read. It's a-1-milpies. (note the original concept you're "referencing" did not read as "million," but "1 million.") So it's not the execution stage where this is failing, it's the initial concept. You can't create a good logo no matter how well executed if the concept isn't there.

The concept is that now you read a1000ilpies, but I guess is starting to look more a hieroglyphic than a logo and yes, the obvious similarity with 1million is upsetting me too.

So I guess I'll have to explore new ways, perhaps keep with the altimeter idea, because substituting a letter I for a #1 seems to be widely used too.
http://img.printfection.com/14/339727/pSNZ2.jpg
http://logopond.com/logos/d0a8c093ce9fca0ff538267b48421273.png

I'll keep trying.