Walk cycle's looking better, but still needs a little work, mostly in the arms. When people walk, they exert strength through their forearms...when moving the arm forward, the hand is kind of leading. The shoulders don't really move back and forth like you've animated them, either. The upper arm just pivots from the shoulders when moving backwards...when moving forward, the upper arm stops pivoting from the shoulder when the upper arm is pointing basically straight down...the rest of the forward movement of the arm is taken over by the forearm...
It's pretty hard to explain in text, hahah. Basically, right now it looks like you're guy is just wiggling his shoulders back and forth, while he lets his arms limply bounce around. The hands lead going forward, and the elbow leads going back. Try walking in slow motion to see it yourself, and then try copying your animation with your body, to see how different it feels. I'm not much of an animator, but when I draw or animate things, I find it very helpful to slowly act out what I'm doing until I understand the motion I'm trying to copy.
Good luck! Walk cycles aren't easy, so you're doing a great job. With a little more work, I think you'll have it looking great. =D