Here are some redesigns I considered. I was toying with the idea of goggles to emphasize the humorous aspect of the hero. When I showed my brother Dan he said it's too Golden age and that he liked the original design. I agreed and in hindsight the design was a little too much like the original Blue Beetle costume.
And here is how the Bolt appears in the Bolt Comics Presents #1. So it's basically the original costume design sans the pointy shoulder things.
Yes, I guess I am sentimental as the first panel is a homage to the original comic. More on page by page comparisons in another post.