Kate's globey idea combined with the little o in SCoPE have really made a difference in my thinking about the logo. It's also interesting to see how you react to a logo when it's placed on the main page.
Now I'm leaning towards the look of the logo on the right because it has a nice bold crisp look to it and I like the big letters. I'm having a hard time visualizing the letters right on a ring (or part of a ring), though -- they would have to be fairly small.
Jason, are we making you crazy yet?