I LOVE ADOBE CS4!!! I fixed a few of the issues that were addressed. I used the blending options that Soren Miren was talking to adjust the inner stroke, add an outer glow, and drop a shadow beneath the letters. Then I feathered around the text layer.
Edit: I also changed text font from Vijaya to Vivialdi.
After (Using Photoshop CS4):
Before (Using GIMP 2):
Edit: I also changed text font from Vijaya to Vivialdi.
After (Using Photoshop CS4):
Before (Using GIMP 2):