Logo design for Home and Car entertainment

Seeking to have an existing logo modernized, the existing logo was made well over twenty years ago and needs a modern touch for use in today’s business. This logo has been used for many years and thus has a great deal of value associated with its identity. Someone that has seen the old logo should be able to identify the new logo as the same business. I would also like ideas for the a business card using this logo.

HiWay HiFi

The business has been around for 30 years selling and installing custom home entertainment and custom car equipment, and is very customer orientated. I would like the logo to look new and fresh while still be "well to do" and refined. The majority of the business clients tend to be upper class middle and I would like the logo to reflect that. The logo is not much to work with so this may be difficult to modernize, feel free to explore and play around with different ideas. The main concern is that people who know the old business logo also be able to identify the new logo as being from the same company. The company name is HiWay HiFi and is NOT associated with http://www.hiwayhifi.com. If you have any questions feel free to ask, I do not want to limit anyone's artistic ability so logo ideas that are far removed from the old logo will be considered also.  You can see the current the logo here: 

http://www.magnamg.com/hiway/logo.jpg

- Needs to look professional, otherwise you are free to explore, I am open to most ideas.
- The logo curently is black and yellow:

I do not want the logo to look Cartoony