You nailed it, but maybe the "arcade" should actually be in another colour though looking at it. A bit too much yellow.
Maybe even keep the "arcade" red like the original but with the white and black strokes like you have done on the yellow on.
Are you using any red buttons or accessories?
Overall it is looking very very good!
I like the yellow rays a lot more.
Have you tried a gradient on the rays? Like yellow into white or transparent? Just to see what it would look like.
Just out of curiosity, how did you make the 3D text? Is Homer a vector? Are you making this available for download?