If you have #1 produced with stripes on the bottom, I might have to buy it. It rocks! The colors are great, I wouldn't mess with them. I like how the white cowl and wing tips leave room for logos or a little more trim if desired. The design of #4 is good but I would rather see red/white/black, and you would really have to have some contrasting colors on the bottom for orientation.
Kudos to everybody on their designs, but #1 is the winner by a long margin if you want my opinion.