Reminds me of something out of Final Fight 3! Of course this guy could probably kick Dean's ass somethin' good, what with the chainsaw there... Most awesome work. : )
I second the anatomical nitpicks and It'd be cool if the chainsaw blade was just a bit thinner, say 1 or two pixels. These are just nitpicks, though and otherwise it's great. Especially the head and right arm. Classy.
The coloring/shading is marvelous. Loving it. To nitpick, I must say the proportions could be better (either the legs are too short or the torso is too long) but I like the piece nonetheless, as the slight anatomical errors are more than made up by the really great coloring.
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An excellently detailed and well-drawn character... One of these days I'm going to create something on this level of sprite art... Hopefully ;)