I definitely don't like the indent to the left of the knob when applied to this design. This design works so well (as did the 303 Newface) because it's consistent. Horizontal and vertical lines complemented by radiused corners. Most other changes just disturb the design unfortunately.

Also, the IR island idea was something else I played with and didn't bother to suggest. It blocks the LED. (though you'd likely still see the glow).

I believe the top is not too thin either. If it were the same size as the bottom PLUS handle, it would look too heavy. Remember that even though the handle is down there, you'll always see a line between it and the fascia. You'll also have to have some type of depression to allow pulling the handle out (as 303 did on his). If it's left completely flush it's going to be really hard to grab the handle.

Bruno