hello i'm glad you're working on a battle sprite. You're guy remember me my favorite kof fighter : Ralf JONES ^^
As i like kof series, i can give you some advice, but i'm not a very good spriter, so i'm sorry if i changed too many your work.
I'm thinking your sprite is too big : as you can see with maxima, he's legs are smaller than your's sprite.
I reduced the chest and changed a bit the stance.
You should add some lighting (i added a little on the bandana).
I change a little the leg according to the king'stance (knee shouldn't be at the same height with the current stance)
The worst problem imo, is the boots aren't enough rounded.
So this is my work, i hope that will be help you a little
you can see all kof series's sprite. some sprite can be found here :
http://sdb.drshnaps.com/system.php?sys=15 (search for "The King of Fighters")