I would be careful about blatantly using another company's product (Birchwood Casey's target) in the logo. Even just blotting out a name can still cause you potential problems if it's readily identifiable as their product.
I think that looks great but shouldn't the round be heading in the other direction? It makes it look like a plumb bob now. ( I realize it's prolly because you want it to head toward bullseye, but one of you're earlier designs had it outbound and it looked good). Just my unasked for 2cents. Either way it looks great!