On the whole i like it.
I personally like the connection with the KS, however what Operhal said about it needing work is correct. The connection needs to be defined more precisely so that it is easier to understand. I find it hard to put into words what needs to be done so I drew a picture:
picksea-01.png 24.78KB
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I hope you can see what i was trying to illustrate, I have smoothed out the bumps and have also defined the connections of the letters more so that they are easier to distinguish from each other. It is still not 100% there but I am lazy 
This is the main issue but I would also suggest that you take look at the letters e & a they don't match. I think the counter for the letter a should be a touch higher in relation to the e. I am also unsure about the kerning(for want of a better word) it is looking a bit like P i c KSea to me.
I agree with the .com critique given, font should be bolder, simple, more round.
hope that helps.