I don't think it reeks of programmer art. I think a calligraphic "G" is perhaps a bit "out of place" (calligraphy + technology + game development... which one is the odd one out?), but I don't think it's terribly out of place, and it's become an iconic symbol of this site. Besides, it's made finding the g-spot easy... (I just had to link to that xkcd)
Unless people can point out very specific things that aren't great or other (specific) ways to improve it, I think it's kind of a moot point to be making, in my opinion. And I can't make any specific critiques myself.