Mike linked to the announcement of the new ISF logo.
Here's what they unveiled:
Here's my suggested fix:
Basically, I lined things up, centered the text-mark, instilled some harmony by adjusting the kerning a bit better, got rid of the little green blurry nugget (I know it's supposed to be the "accent circonflexe" from île, but I think the waves can cover that duty themsleves) and changed the font of the URL.
Update:
Can you tell this isn't my forte? The edges of the radio waves aren't rounded and I totally not happy with the kerning and alignment here but I'm tired... ;)
Anyways. I stop here. The original's a pretty good idea and start to a logo... I just felt like tweaking it a bit to fit into the grid I see in my head. ;)