Proportions are okay, but there are other problems to be heeded. I.E... Not to be discouraging, but the limbs really look like noodle limbs of some sort with clothes to disguise them, but the legs are still pretty obvious. You may want to pull up reference. And dynamic shadows, eh? Frankly, as I imagine it, I don't think any level of technology being applied to a 2-D sprite is going to cover up some flat shading. Bad palette, maybe. But I recommend giving the shading a redo, if you have the skill to make it look any nicer. If I'm not lazy after all the doodling I've done, I'll make an edit to help you.