For me the best crests feature more than just initials and years. Look at Aberystwyth Town with their reference to their harbour, castle, nation and club colours.
Newcastle have a distinct badge and it is neither circle or shield mounted. It stands out from the crowd. Barnsley added class and a scholarly touch. Luton threw in so much to their crest, it resembles a history of their concise town.
Could we have gone a little down the OL route? Old crest on the left, newer crest on the right, MCFC above.
The wombles badge was a class act too.
Chester's shield was nice too.
Juve's, Real Madrd, Barca, Bayern etc all stand out. All are marketed so well and few people question what their crest history is. I take pride in the UK's more traditional badges and I'm sure our club will, regardless of any input by Nike.
What we need is something so distinct locally, nationally and globally? I believe our current crest is a powerful brand globally but a change will cause massive interest, but what will it be?