I think the walking is very dramatic from the frount. Usually we don't naturally move our shoulders foreward and back so much when we walk.
True, but when you have a character in a game walking down the screen a lot of the motion gets lost, particularly the up and down pixel shift. This is a problem I've encountered myself lately, but if you look at other rpg sprites, say chrono trigger, they put a lot of body movement in and it looks a lot better in game as a result.
I think the current drama in his walk would work, but I would agree the feet could move up and down a lot more.
I have more of a problem with the sideview, I feel everything from his shoulders up should be moving up and down. currently his nose stays in place while his eyes squash down, his jabot doesnt move like it does in the front view, and the collar just jiggles a bit where again, it moves a lot in the front view.
you also might want to try shifting his rear foot back a few pixels so he doesnt seem so flat, currently it looks completely side-view although presumably if this is an rpg you'd want the sense of an elevated view.
Its looking a lot better, and he seems very determined. Oh and every true evil genius needs a big collar.