The best looking Newcastle logo is the current one, in my opinion, with the original one coming in 2nd. I fear we're up for a change in 2yrs too, if history is anything to go by. The original logo we had 1988-1997 (10 seasons). The 2nd logo (the square one) 1998-2007 (10 seasons). The current one we've had 2008-present but I sincerely hope it remains well beyond 2017. I think it's pretty close to perfect ... and this is coming from someone who's always thought it should be on a shield of some sort!
As for the jerseys, yes, the original is best in my opinion (well, the mid-90's version of it to be precise ... yes, there is a slight variation of the balance of the red and blue stripes), with the 1997-2000 / 2012-present design coming in 2nd. Geez I love the original design and how iconic it is, but I also do love the current design too.
It just proves, with the right colours and balance, that the simplest of designs can look the best.