Looks like its tiptoeing. Might want to go heel-toe instead of toe-heel when the foot touches down. And yes, as Kazuya said, the legs should extend more when they touch down as well. The torso is rotating the wrong way, with the legs. It should be going with the arms.

And exactly what viewpoint are we looking at this from? Looks like slightly above and obviously at an angle, but the feet should follow an orderly path along the ground plane.

The dark red pixels on the edges of  the cape are really saturated and dark - they create a weird situation where both the saturation peaks and value bottoms out between the cape surface and bg.

Animation looks incredible, but gah, that run animation!

What BOB said. I don't get why Mad World is so stunning, aside from "omg, violence on Nintendo wtf." Gameplay didn't look all that great.