Sears Logo: Does it work?

Below are three logos for the Sears department store. The company used the top logo from 1970 to 1984, the middle logo from 1984 to 2004 (some stores haven't yet taken down this signage), and the bottom logo is current. What do you think of the evolution? Does the current logo work?

Vote for your favorite incarnation below, then go to www.creativepro.com/node/63415 to comment in detail!