I would combine the two lines of navigation so that the login is not in the middle...keep like items together 
Perhaps move the Announcement to the footer.
In regards to the footer copyright...
The link portion is not a copyright message and can be removed.
As long as you maintain the copyright text, you can manually remove the link.
Powered by vBulletin... (copyright) must be visible at all times on page load
Things you can do
remove version number
remove link to vBulletin site
copyright can be place on one line