So, first off... Im about 10 times as into the first one as the new one.
I think she could work at that resolution, with some minor changes. First off, her proportions got wonky. I would make her arm skinny, like it was in the first. This wouldnt bug me as much if it wasnt for the first sprite, but her pose just doesnt read as well now. I would also raise the elbow a little bit, and elongate her legs/shrink her torso. right now her torso appears considerably longer then her legs. I think part of the problem is just how far down her crotch is, but raising the belt a few pixels, and maybe getting rid of the top black line on it. (just so you have more room for the actual torso).
I also really dug the front arm holding the sword, but I can see that being a pain in the neck to animate, so I cant really blame you for culling it. The blue hair matching the pants gave her a bit more style. I like her new haircut, and I really dig the way you rendered the ear, but making her a brunet makes her look more like an NPC and less like the main character.
I would also EITHER give her eyes, or lower her bangs and the shadow. Im not suggesting drawing eyes on the face exactly, just some shading to suggest they are there, right now her face looks pretty weird at 2x zoom. It works at 1, but if you are zooming in, I would add eyes, or just lower the bangs/shadow.
here's two edits that basically address all of that. They are basically the same, I lowered the bangs on, the other I gave her an eye. I tweaked the anatomy on both, they are a tad bit rough, but take what you will from them.
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