OK, thanks everyone for your submissions, and now for the first round of feedback.
Some of them are a bit too "verbose", like #5, #6 and #7. The flying bits on #14 and #15 are nice, but they make the logo too noisy. #24 and #25 are too tall and also a bit too verbose.
What we like best so far is the "one row" submissions, like #1, #2, #18, #26 and #27. The logo needs to fit into many purposes, like on the top of a website (like we have currently on bitbucket.org), business cards, and possibly print (including stickers, etc.)
It would be nice if the font used was a bit more sophisticated and timeless, rather than something "playful" or standard (verdana, arial). We like Akzidenz-Grotesk (http://en.wikipedia.org/wiki/Akzidenz_Grotesk) and Myriad (Pro also.)
In short, the bit metaphor is good, but needs to be refined a bit, same goes for the bucket. Neither of which are *required* to be in the logo. The slogan isn't required either, as we can add that ourselves.
Could you please rank some logos beyond the contest winner? We all put precious time into creating these logo ideas and would really appreciate a few minutes of your time.