As an embroiderer/screen printer/promo products distributor, if you came to me with that design I would probably cringe. There is so much going on in all of those. I am definitely of the mindset that less is more especially when it comes to designing a logo. Also, rule of thumb...a good logo will look just a good in black and white as it does in color! And as one poster already pointed out, be prepared for extra costs when doing market materials. There are going to be times when you have to provide a black and white image (ie: maybe phone book - if people even advertise in them anymore, newspaper, etc) and that could be a problem. Think about all the things you will want to put your logo on and make sure that your final design will work.
A good, effective logo doesn't have to have tons of colors, colored outlines, drop shadows, gradients, etc.
Also, although the distressed "look" looks pretty cool on a screen printed tshirt, probably not so much on a business card.
As an imprinter, this is just my opinion of course and something I tell all my customers when they come into the shop wanting us to design a logo or imprint a logo they have.