The gray border wasn't ever intended to be there. What browser & version are you using? (IE 6 or earlier, right?) IE 7, Firefox 2 and later all didn't show that gray border; it was transparent.
But that's why I was excited about
something I read today about how to make transparent PNG's actually work with IE 6 without a javascript hack. So the new logo has that incorporated into it and should look decent with IE6, as well as the newer browsers. It also has been vectorized (using vectormagic), which shaped the characters a bit from the original font.
EDIT: Ah, I understand what you're saying now. You'd prefer the old font, fixed for older browsers.