ValueGolf Sorry to be a dissenter, but I find this version more than a bit disconcerting because of what my eye picks up as a lack of balance. In this particular rendition, the bottom of the "v" is certainly not centred on "Value Golf." And even if you were to play with the kerning of the letters on the two words to centre the bottom of the V on the company name, there would still be a sense of imbalance because of the different number of letters in the two words. For that reason I would prefer one of the round logos.
I like #2. I had the same first impression as mikeintopeka and thought that the "checkmark" design might be a good idea, but now that I see it, I prefer the original. The second version almost puts too much emphasis on the checkmark and the G seems a bit orphaned. It looks like "checkmark G." Yes, it becomes obvious what it is once you take another look, but I'm not sure you want people having to take two looks to figure out your logo. Also, in the first version, the line of the outer circle leads the eye "into" the centre of the logo to complete reading "VG," whereas the second checkmark logo leads the eye out past the G, and your eye has to return to read the G.
As a side note, I didn't really like #4 at first, but I think it is more the colouring that threw me off. I think it has alot of balance to it, it's clever, and it could stand alone on a golf club. Then again, some less visual people may not pick this up as a V and G, but for them, there's always the name spelled out below it.
Just my opinion.
EDIT/ADDITION: I was just thinking that the small white gap between your V and G in your "chosen" logo might also cause you a bit of a problem. I was always told to stay away from fine lines and small gaps in logos because if they are not printed with a quality printer, they can become distorted or "bleed," ruining the intended design.