I think you'd best be off looking back at the design you're running with. I've recently become a big fan of Norse mythology.
A few things I think need to be pointed out. Odin isn't the ice elemental. He's the all-father of the norse gods. He only has one eye left, the other one was traded for a great deal of wisdom. He often times disguises himself as an old man. He is associated with wisdom, war, battle, and death, and also magic, poetry, prophecy, victory, and the hunt. Obviously he's more of an intelligent God than a brutish ice giant.
Now with that out of the way...
I think the beard looks stiff, it feels like a piece of paper connected to his mouth area. In your reference he has a full beard grown out from his jaw. Just like Emtch said, Odin had a spear. He is rarely mentioned with a sword. His nose seems.... ugly. Makes him look like a troll or a generally ugly giant.
I like the antlers, shorten them and thicken them a bit. They'll read more like antlers than tree branches. The blue eyes really need changing.
Good luck, there's a lot of work ahead.