Design Focus : Pizza Hut Logo

I read an article weeks ago that Pizza Hut will rebrand itself to 'The Hut' believing that this will improve their declining sales, IMO i think they should stick with the former, i find 'The Hut' unappealing it's like going to a Go-Go Club.
Here in the Philippines, they haven't transitioned to the new concept yet and i'm not sure if they will, considering the cost and all. So enough about that, since this is a design blog, we'll focus on The Hut's corporate identity & it's evolution.

Original Pizza Hut Logo (1968-1999)
Revised Logo (2000-Present), They italicized the words & gave it a more modern look.
This one, as you can see is a combination of the 2nd & New Logo.
Eventually they'll have their new stores or some existing stores bear this Logo:

I prefer the third revision, it looks fresh but the original identity's still there.

So, whaddya think?

Here's a little trivia:

Pizza Hut Stores are now defunct in these countries:
Argentina (1994 - 1998)
Denmark (1994 - 2009)
Switzerland (1988 - 2004)
Austria (1996 - 2003)
Tunisia
South Africa