My opinion is that the "EPIC" is written with wrong font. When I hear "epic" I think of old things (battles etc.), and if the font is some sort of a gothic font it'll be more adequate. It'll also look better with that book. You see the worn out, yellowish pages, and then you see a nice Epic written wit some readable gothic font. And the font must be a bit simplier, cause with that particles it'll get a bit mized up. Also, it may be better to make it larger. With all this white lines, and the black thing, the name of the title just needs to breathe. I was wondering if you make it casting a shadow, wouldn't it be better? Or more clear, at least... But if the epic-logo casts shadow, and the borknagar-logo is in the background (the black thing over it), it would contrast a bit...
Otherwise the cover looks great. I personally prefer the black thing to stay over the logo. A lot of bands just take a picture and put their logo. But in this case the logo reacts with the cover, it seems a bit more natural.
That's just my opinion...