Much better now.
I do enjoy the development of the character, he seems much more likely to be carrying that sword now.
My one remaining nitpick is the Antialiasing on the 45o angle lines, it's really not worth it, making the picture blurry (to me)
Excellent use fo the middle tone for shading now, and you've adressed the arm problem, thought the highlight on the right shoulder seems a tad bit, and the forehead suffers from a little boxness
Still a great improvement, you might want to tinker with your letters,
I realize it's hard to Anti alias with only one middle-tone, so you really have to decide wether certain areas really need it.