Navagon: Speaking as someone with graphic design qualifications, that looks like the result of someone completely oblivious to the whole concept of design pissing around in CorelDraw for half an hour then being unable to decide which of their 'creations' was the best (because they're all equally shit).
[off topic] Just a quick note, the whole "graphic design qualifications" is starting to be a little pissy (just coming back from the Monkey Island remake debacle). Not to mention naming CorelDraw. Just show from your comments that you know what you're talking about without mentioning it every 3 posts and some people might actually take you seriously. I for one dismiss a post that starts like that no matter who wrote it and it takes much more convincing that your points made there are actually valid.[/ot]
I actually like the new logo as a logo as it respects a few things that are inherent to good logo design:
1) you can scale it easily
2) you can print it black & white or easily alter the colour
3) it's easy to spot from far a distance and still get what it is
4) has a strong visual identity
Now, let's compare the old one with the new one taking that list into consideration:
1) Both the old logo (94-03) and the newer one would of looked like hell scaled up or down.
2) You could maybe print the newer one black&white but it would still look like hell. I'm not even going to talk about the first one.
3) This is one of the few points they actually got right with the old logo.
4) I much like the new font and the weight it gives the logo compared to what they used for the old one.
Now, I also think the morons at Kotaku used the logos in the wrong order; if you put the last one in the second position you can easily see an evolution of the shape going from circle (a thing that in nature is fairly present) to an octagram which is more rare. Or even going back, you can take it as an evolution towards perfection (circle) which is rare.
Yes, it's a subtle effort but most good logos have that ingrained in them one way or another
without making the whole logo feel loaded.
The whole transition can also be used on spread banners at a convention for example as a sign of "getting closer to us" which is also something awesome from a design and advertising perspective.
So, while I may feel sad for the old one, the new logo is definitely a welcome change.