I'm ranking this one because of the geared "i". I'm generally ambivalent about the initials logos, but the bottom part of the "S" seems to start to look like the database tuna-can (wolv was working this angle in some earlier drafts, eg. #12), and might lead somewhere.
Be aware, though, I'm currently pretty focused on the geared bits thing (#62, #68)
#73 is moving in the right direction. I don't know if the smaller gear adds enough to make up for it's added complexity. The initials could be made a little more subtle by linking the "pointy" parts of the "S" directly to the serifs of the "I" (and maybe dropping the dot), so it looks like it was a design feature of the gear.
It is missing the "data bits," of course, and although nothing says you have to have them, I'm sensible of pushing the industrial theme too far, and loosing sight of it being a technology company (the phone book categorized my company as "industrial equipment/tools"), so in their absence, I really need something to say "Information systems" or "technology". The tuna can, a network icon, or something.
Oh, and you are missing a "T" in "sofTworks". And the "e" at the end of machina should be an "a" (latin)
#76- I see you've dropped the dot on the I, was also looking for the "I" to just be a simple vertical bar that connects the negative space in the "S", e.g. I shouldn't see any serifs on the "I".
The digital bits seem a little pasted-in, and don't integrate very well. Not to box you in, but one thought that comes to mind is to move the bits to the (top) left of the gear, get "processed" in the lower-left part of the gear, to create an equally-spaced line of dotted squares as an underline to the logo:
. . . . .| .\__/ Softworks . . . . . . . . . . .
(oh, man does that suck. LOL. That's why you do the drawing :)