There's something wrong with his sleeves, I think. And his face. I messed up coloring his shoe properly, please disregard that.
Any remarks on the shading would be greatly appreciated but all comments are welcome, really.
(http://i38.photobucket.com/albums/e112/gamefaqslufia/eb2233bd.png)
Next step is teaching him how to walk, open doors, bend down, swim, mend socks, ... so I'd like to have a clean base as a reference.
His arms look like they're in front of him, instead of at his sides. And his legs don't look long enough. As for shading, there are shadows but no highlights, but that can sometimes be a personal choice.
Otherwise, I think he looks great.
I dont have a file host, but I've uploaded my rendition here. Maybe someone can upload it to theirs. I've made the following adjustments:
-The wrinkles on his elbow
-the buttons on the wrist cuff
-the buttons down the chest
Image link:
http://oeo.la/-IWNC
I think it would help balance the character. Take what you want off of it :)
Uploaded:
(http://arj0n.webs.com/-%20Data/edit.png)
I think the sleeves go too far up his arms, making the pose look awkward
It might be just me (I'm not that good with accurate proportions), but I'd move the eyes and eyebrows down by 1 pixel:
(http://img338.imageshack.us/img338/8717/lufia.png)
Speaking of they eyes, he looks a little cross-eyed.
Very quickly modified, left side changed, right side normal:-
(http://i858.photobucket.com/albums/ab150/Victorsix/Image45.png)
As TerranRich said, the arms look like they're in front of the the chest. curving the line of the shirt outwards slightly towards the top helps give a better impression. Likewise clothing bunches up at the joints, so the inside edge of the armpit, and the elbow.
Lowing the shoulders helps the image look a little more relaxed, and less like it's standing to attention.
The proportions did look a little off (don't listen to me though, I work with pixels), part of this seems due to the position of the crotch shading, but the length of the torso (and arms) is also a factor.
There's a simple trick you can try if you want to check if your sprite has right proportions. Take anything you're sure about (there are plenty of example drawings, photos work well too), resize it to match the size of your sprite and draw a few lines in key points like chin, shoulders, crotch and such. If key points in your sprite and your reference match, then it should be fine. If not, try to fix them.
(http://i265.photobucket.com/albums/ii203/Kastchey/bp-l.png257327802)
And as for the shading, what Victor6 did with the left side of the imagei s a way to go in my opinion. Makes the sprite look far less flat.