Okay... here's my version... Obviously its not as good as it can be but oh well.. this will have to do I guess. I'm sure Firefox can do something cooler perhaps?

So here it is: (okay, so I know you all are laughing at my gfx skills... lol, it's all right laugh, I'm used to it now :D )

Here's my first idea: A the plain siggy, with no gloss or anything. And instead of just putting 'Syschat' I thought it would be cooler to put 'Team Syschat'... and of course I had to include the moderator part. And it has a bit of transparency as well... so if the background changes it doesn't matter.
http://i2.tinypic.com/radcb8.png
A variation of the first one with curved gloss:
http://i2.tinypic.com/radcw0.png
And just plain gloss:
http://i2.tinypic.com/radeep.png
And of course, other colours are available as well... and the siggy can be extended to hold your name (no matter how big it is)... :D

that's not bad, i like the effects and simplicity (i don't mean simplicity in a bad way) it's more like an icon or stamp kind of siggie instead of a huge here i am.. and i like that! I'll play with PS a little more and see if i can come up w/ any other idea offerings :D (i just want to play with PS really lol)
I have way too much time and i like abstract stuff so here somthin i threw together in light of your idea Risherz
http://www.marvingohan.com/images2/SC2.png

Rishi, I like your siggy's they are nice and elegant.

How ever I just updated the Logo, How is it?

Thanks for the wonderful comments guys!

The new logo looks good to me. The font is cool as well. And the best thing I like is that it goes together with the colours in the site. :) So it looks even better...

And your siggy is nice as well William, and I like that abstract stuff that you've got going on there... very trendy I must say :D at-least I seem to like abstract stuff (and the colours you've used!)...

I agree, the new logo will fit in better. Yet another excuse to play in photoshop, which makes me like it even more, lol

The new one is way better than the old one. Good work.:)