I prefer #3. The Galaxian-style logo is awesome, and I have too many black T-shirts as it is.
That said, I agree with TrevEB's complaint:
The pinball machine and arcade cabinet are just to generic beside such a nice logo.
The Galaxian-style logo already says "video game". It would be neat if "Extreme" was in the shape of a pinball flipper, or in the style of a logo from a famous pinball game or manufacturer if one could be found that complements the Galaxian logo. That said, even just losing the two white machine drawings from the existing design would make it much more appealing, IMHO.