Stop!... Wait!... Let's not get ahead of ourselves! Lets consider this!...
Oh, I know you'll hate me for it, but I'm going to have to throw a designer's spanner in the works, sorry! (And please accept that I have respect for the work already submitted). BUT...
As a Graphic Designer I spent half a lifetime having to implement hopelessly dysfunctional, amateurish logos into professional looking high profile design projects, - many of these so-called logos probably started off as the client's niece's absent-minded scribble. Painful. Zero credibility. Zero functionality.
The proposed design might look fine on the face of it BUT, a Graphic Designer didn't do it, and it has various major problems as a piece of graphic design:
1: It is not distinctive enough. (Imagine... we could substitute say, a Triumph engine, or even a Velocette engine, nobody would even notice the difference unless they knew exactly what to look for). - It MUST be distinctively an instantly recognisable BSA parallel twin image yes? Unarguable.
2: Technically, an image with such an abundance of fine lines does not lend itself to easy, crisp, good reproduction in a wide range of uses and media, from screen images, to engraved items, through printed items, even sewn badges. Can you imagine the engine cutaway image as an engraved/enamelled keyring? Sorry, it obviously just wouldn't work would it?
3: The visual 'form' of the logo, an image within a circular banner carrying the title wording, is hackneyed, very ordinary, and not at all distinctive. (That's the KEY thing a logo must be... Distinctive). Plus the wording would be too small and totally illegible in many circumstances.
I know at this stage it's no big deal, but maybe in 30 years this logo design could be quite important, and if we get it right from the 'off' we'll be ahead of the game.
If we're going to do this, lets do it right.
Please don't take offence at my criticism, it is meant positively. Hopefully people can see the sense in my comments.
(Oh and remember, a committee designed horse ends up as a camel!) Too many cooks etc...