Hey, Arne! I think you sent me some rips once... on IRC maybe? Because I can't find it in my GTalk downloads folder (where I keep the rest of my Arne pics

).
But yeah, re: your critiques... I'm not sure I understand completely how my design deviates (other than the color). It seems that the basic elements you mentioned are there. Generally, I tried to look at as many sources as possible and then selected features that I liked. I think looking only at the original sprite itself, you run into problems, because of the limitations of the hardware. For one thing, the design deviates within the game, from ingame to the cutscenes. A lot of the concept art is official, also. The Nintendo Power version seems to be in line somewhat with the ingame concepts.
Also, my intent isn't to recreate the first game, which is perfect for what it is. Which isn't an excuse for poor pixelling, but I think I can get away with adding some of my own ideas (for better or for worse). My idea now is that Jason Frudnick, having been in so many battles with the Plutonium boss, has become irradiated and is himself turning into a mutant (another incarnation of the Plutonium Boss?). He goes nuts and takes SOPHIA the 3rd with him. You're playing as someone else, maybe his son or his assistant, and you're piloting a new generation of vehicles. Maybe the ATHENA (All-Terrain Hyper-responsive Energy-efficient Neutralizing Abdicator)?

But thanks for the advice - I'll spend some more time thinking about what you said and see if I can improve the readability of both sprites. What everyone is saying has merits and I'll see how capable I am of making the improvements.
And I'd love to see your take on it, as well, if you have the inclination.