I agree with Daniel about the importance of the word "or". But also I guess you need to improve the layout thinking on "actions priorities"
The layout offer the option to create and account, login with facebook, login for existing users, remember pass... but, these actions have different priorities for you, I guess that:
- You prefer users to create a new account so you can collect all his data directly on your data base...
- If users don't want to do so you may offer the option to login with facebook, so you can collect some data using facebook connect.
- Finally you have an option for your current users to login, they already know what to do so you don't need to make this option as visible as the others.
*It seems that you are planning to add the login on other screen so you don't need the forgot password link here, I suggest to delete it.
Thinking on this I suggest something like:
OPTION 1 - To keep login on separate page:
OPTION 1 - To add login option on the same page:
- I may be wrong on priorities but they exist so if your preffer feature facebook login just play with possitions and sizes to emphasize what you want.
:) Hope it will be useful!