WhatIWantMost The Web 2.0 Logo

I put together my own take on a Web 2.0 logo using the Web 2.0 Webdesign Tutorials on the Dr. Web Weblog.

Of course part of doing the exercise is to poke humor at Web 2.0 design, but I also think that I might have come up with a clever little logo, too.  Have I mentioned before that my design skills suck?

I think I need to lighten up the dropshadow around the gift - it looks a bit to heavy now that I see it in space. I think I need to raise the gift logo up a few pixels as well to better balance it with the text to the right of it.

UPDATED: Below is an updated version of the logo after doing some of the things I mentioned above:

Thoughts?