The ring is an interesting idea, but the diamond itself is too subtle; it looks like a smudge in the smallest size logo. And the ring's upside down orientation bugs me.

ok, that makes sense. A close friend and advisor also said that the ring needed to be more visible. I can see where you're coming from on the orientation of the ring also, I will try to adress that. Thanks

I realize the type choices are vintage, Does this read as being dated? would this turn off a younger market?

It's dated in but in a atomic-age way.

I like the ring, but it may need some beefing up when rendered at the smaller size. The diamond on the bottom doesn't bother me.

The tracking of P H O T O does, though. ;) Tighten that up. I realize the H and y might conflict. Perhaps make the H lower case to remove the right portion to leave room for the y's descender. Or...maybe allow the ring 'O' to be larger and then drop PH TO down a bit.

The script is a nice choice, but the font for photo is too stylized and competes with the title - try to find something to compliment and play 2nd fiddle better. The ring is ok, but it doesn't seem essential, so maybe try doing something more subtle with it or even just let the nice script stand alone. I think it (the script alone) speaks to the industry enough without the explicit inclusion of the ring. Or maybe also try including a simplified version of the ring where it is, but not use it as part of the word photo. I think icons as replacement letters tends to be corny anyway. Hope that helps.