Hmm, the red lightsource was a nice idea, but you shaded it on the sprite that it's not as good as it could be. Like, the way it is now, seems it is almost an outline for the sprite than a second light source. I emphasize what CIdow said about the pants.
Not bad, but the shading style on the pants is a bit strange. I mean, it doesn't look like jeans. the rest of the body is awesome dude! very nice sprite.
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