It's better all right (really good actually), but the chest seems to bulge out too much, so I did this:
1. Removed 1 pixel of the right side of the vest, and added one on the other
2. Reshaded the sweater. The currently shading seems to imply he's completely flat
3. Brought the left arm down some pixels and reshaded the arms and hands

x2

And might I suggest to lighten up the shading of the pants a little, I'm not a huge fan of the high contrast.
[edit]
Ugh! Seems like the legs doesn't fit any more
1. Removed 1 pixel of the right side of the vest, and added one on the other
2. Reshaded the sweater. The currently shading seems to imply he's completely flat
3. Brought the left arm down some pixels and reshaded the arms and hands

x2

And might I suggest to lighten up the shading of the pants a little, I'm not a huge fan of the high contrast.
[edit]
Ugh! Seems like the legs doesn't fit any more
