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I like the first version better, despite your rough knob and blocked speaker vents.
Looks like you've nailed those problems now though.
Can you use that 'Knife Project' on just the underside of the object or is it really a 'project' from the outside in, and everything in its way goes?
In 3DsMax you can do what is known as a 'boolean' operation whereby one object can be used to 'cut-away' geometry of another....is this 'Knife Project' the same sort of thing?
Whatever, looking good regardless.