I'm glad the guys are honest - it would only help to lay it out there... I have to agree - my first thought was that it looked "dated". I am no logo designer, but I put this together in a few minutes. I don't know what your market focus is but you need something that looks professional.
Josh is onto something...and knowing what your focus is the key.
Branding is paramount and you want something that people will remember. You logo should clearly indicate who you are and what you do. It should not be difficult to read, spell, or remember. It should e eye catching but not overbearing.