I think the current Rust logo has a very detailed shape. The holes and individual teeth of the gear will not be readable at small sizes. The original designer of the logo had the same thoughts, but I think the logo should be even less detailed. Also, the choice of the serif font could easily be associated with the wild west era, while Rust wants to appear modern in any other place.
I have experimented with some ideas - but they may be too reduced or too abstract for some tastes.
Do you think any of these directions could be worth exploring more?