how would the Xara experts trace this logo?

I came across the attached logo on a website which I thought would be an interesting challenge to covert to a Xara vector.

It is quite small and low quality so I didn't think its a candidate for bitmap tracing (I may be wrong there!), so I tried tracing over it with the Shape Editor Tool, converted the lines to shapes then pulling'n'pushing the points to get the serifs etc. The end result was less than spectacular - not smooth or flowing like the original. Maybe stroke / pressure profiles come into play here?

Anyway, I was just curious how the more experienced members would tackle something like this.

I'm not an expert, but it looks easy. Just put it as a background and draw the shapes over the top. It's just a bunch of curves - playing with beziers, that's all.

I use the 'Shape Editor Tool' quite a bit and that can easily be used to redraw the logo.

I did do it but there's a million and one rules about copying someone else's drawing etc., so I have not attached my drawing.

This particular exercise would probably be safely covered under "fair use" so I doubt it's an issue, but it's prudent to be prudent.