taking a second look at it, heres some more thoughts:

+1plx on the bevel on the text, try and reverse the lighting (so its beveled "out"), see what it looks like,

the drop shadow, make it stright up.

add some lighting (maybe in the form of an overlayed gradient fill) to your border.

inner shadow the text also, thats whats really missing.

jsut some more thoughts. i tihnk this can really shape up. im excited to see how it comes along