Google Chrome Blog: A fresh take on an icon

Icon on Windows 7 taskbar looks good when Chrome is open: http://i.imgur.com/Axvg4.jpg and bad when Chrome is closed: http://i.imgur.com/EnoQt.jpg (there's white ring that should be transparent)

My opinion: it looks terrible. In particular it doesn't match the contours or shadows of any of my other desktop items.

As for the google favicon, am I the only one who still misses the old G?