trials and tribulations over watermarking

I have to start by saying that I love my logo. Props to Holly (jupitergraphics.net) for making the best most fantastic logo there possibly ever could be.

But I'm struggling with how to proof my pictures. Originally I just laid the watermark down, black and white, on any random part of the picture where it seemed ok to have it. But I wanted a more uniform look. So then I went with what I posted yesterday - with a white border, and splitting apart the logo. Frankly, I wasn't thrilled. Heres the newest incarnation:

I like it better than yesterdays... but I don't know if I love it yet.