Thank you very much guys, I really appreciate the criticism!

For the wind, I would make it curve more to add a whimsical feeling to it. I would even twist it around the blade more. At that size, the dithering on the blade is not required. It really only serves to add pointless noise. I would personally give the icon a solid outline, but that's just me. Also the wind wouldn't create, or add to the shadow below the dagger, so it's safe to make that shadow much smaller. The higher the weapon is floating, the smaller the shadow underneath would be. Other than that, you've been improving mate. Keep at it.

 Practice does pay. Not an awesome pixelling job but a vast improvement from previous pixels. Keep at it.