I really like it!
I think it is a really nice logo with a web2.0 feel, without looking exactly the same as every other web2.0 logo out there - which is quite a feat.
I will say that where you would struggle with this sort of logo is in a lot of offline stuff that may not be relevant to you at all but are worth mentioning:
1) If faxing - logo very difficult to translate to one colour (i know faxing is old skool, don't shoot me)
2) On a lot of promotional products. For example, say you want to do t-shirts with your logo. Very possible, but they will cost you 3 times what a spot colour logo does, unless you do massive quantities. Something like pens - VERY expensive to print a logo like this, but I guess you would just do the web address (or not do pens at all). On the other hand something like a stubby holder or a mouse mat - no problems.
So basically, i'm a fan but I wouldn't do a logo like this for a company that didn't operate primarily online - just my opinion!