I might like #3 best if the whole thing were made to look like a pencil with the big 'E' and then a medium size 'RDY' (caps) top aligned with a small 'Graphic Design' that is bottom aligned and ends where the top line ends. It should unmistakable have a pencil appearance at any rate.
Wow! After 5 years registered with NamePros apparently i had never read the forum rules for the web design review forums hehe, i was just forced to read them then before replying.
Anyway - I like number 1 initially, however number 3 seems fine as well