er...wow.
heh, it's very light hearted of you to decide to do two versions of the sprite, but honestly I dont think there's a point to it.What is this now, fanservice? dude, do fanservice when your check depends on it, not when a bunch of geeks want to direct the way you do your art.
if it was for seeing the swirly legs finished any one of us could do that...in fact I kinda did, I felt I had to see what I had envisioned in the sprite so I brushed in some quick shading.

so let me spare you the bother.
the whole point is that you understand where we come from and why the new legs dont really work, so you take that as a starting point for a new way to see the legs YOU want to do, no point in finishing a piece you wont care for.
There are many other structures to make those legs work, not just swirlyness. the point is we are all help you flesh out YOUR idea, the reason we all insist on the old ones is because it's the only alternative we know of, but belive me there's a true point behind the criticism of the new legs, not just flat nostalgia for swirls or something.
now, the MG Gekkou (MGS4 Metal Gear) legs? wow. I dont see that in the new legs at all. do you want to make a creature that spreads it's legs like a spider/crab but with Gekkou style musculature texture and feel?
the problem with what you got right now is just they dont really have a structure, they're not really swirly tentacles but they're not really anything else, they're just deform blobs that dont fit with the rest of the creature, they just look deformed because each one of the legs has diferent blobs at diferent heights for no true reason. I cant see how this creature would move, it's not moving in water anymore so it needs some sort of locomotion method.
try something like
http://number-none.com/happycake/notes_16/HEX_render_101sm.jpg this or
http://ewancient.lysator.liu.se/pic/art/d/a/davey/041.jpg or something, because honestly right now it just feels like you switched swirly locomotion method for just...scribbly deformed blobs
it's really cool that you've decided to get out of your swirl safe zone and reach for higher design elements, but that's not done by just not doing swirls, you're gonna have to come up with real concepts to put in place of the swirls, you cant expect to leave a safe zone by just stop doing it, that's why it's a safe zone it protects you from reinventing yourself, so if you want to leave it you are gonna have to do an effort.