Not bad. You've got the style of the sprite down, but the animation lacks a sense of weight and acceleration.

First, the spearman never breaks her frame--she's bolt upright the whole time! This makes it look like she's not putting her weight behind the thrust. I'd try having her lean forward, into her strike.

Second, I'd try using fewer frames during the strike itself, and use more frames on the back-end for some very small "winding down" movements as the character decelerates and shifts momentum backward. This will make the strike appear faster, and give a sense of weight to the attack as the character pulls back and returns to her neutral stance.

As a reference, feel free to check out these attack animations that Tyvon Thomas did for Telepath Tactics--I've slowed them down so you can see how he did this:

http://www.sinisterdesign.net/Downloads/Cavalier_F%20-%20Lance%20Left%20(Slow).gif

http://www.sinisterdesign.net/Downloads/Spearman_F%20-%20Spear%20Left%20(Slow).gif

Well, I was just gonna leave it asgood enough, but now I actually feel encouraged to try to improve it some more. Let's see If I can follow through with that before I get distracted by something else.

it's pretty cool.  The tweening between the anticipation and impact slows the attack down without providing information -- i would remove that frame for both a faster and more powerful strike.

consider also FE's extensive use of secondary motion (tunic hem, hair are a good place to showcase this) as well as stretch-blurs for a more complete style study.

Not a bad style study.

I suppose that the main problems are with the outfit design (the shield is pretty bland) and how the animation doesn't flow back naturally to the default position. I guess the thrust of the spear could also have a bit more oomph to it, as it looks a bit too much like a quick poke.

Really digging this

Nice little animation