Ramsey's right, It really depends on what your client wants. I used to be a graphic designer (technically I still I just don't get paid now) and I would usually create about 15 different logos, mull over them for about 30 min, narrow it down to 4, then approach the client with the four I had. That way the client feels like a part of the process and you can get an idea of what they want. Also the programs you use influence what you can do as far as a logo goes. Will this logo need to be on any print media? Or is it just on the web? Is it ever going to need to be color seperated? Thats all long term thoughts though.
Basically just find out what your client is looking for and make that to the best of your ability.
P.S. its not the font that makes a great logo, its the designer.
hope my 2 cents was worth something,
Collin