You can add a "cheap" frame after the last one, where Link is still in the same stance but the "tail" of his hat falls back into vertical position.

Don't make too many frames thoug, or it'll be too slow. I did this for my own project, the last attack is kinda spin attackish~: img121.imageshack.us/img121/4625/sword2.gif

It's still unfinished, but the spin itself has only 4 frames (iirc, and needs at least one more), using motion blur. Your has now the same amount in the actual spin, so one or two inbetween the phases would be perfect, to make it smooth and fast enough. You might've already know that, though.

Link looks great here. 

I like the idea and the graphic itself :) very nice. I suppose I dont need to mention more frames as its in the description.