It's not too bad.
I really like the flow the cape has. (though, I'm not sure how it can just connect to his skin like that...)
One thing that REALLY sticks to me though, would be his legs. His front leg is so dark in relation to the front arm. The lighting is pretty inconsistent. Then again, you could be making his right leg the back leg... Which is something a bit unnatural when it comes to sprites. (At least with that view and angle). If that IS the case though, I'd say you've got to turn his body more for it to readily look like that. You could also give more depth to his belt.
And I'm hardly the person to be giving crits on anatomy, and even if this is suppose to be exaggerated and cartoon-like, I think it should be more consistent. (You must be though, since those pecs are huge). Like, the structure of his arms should match. (I don't think the left arm has a shoulder, and his forearm looks a bit like it's starting to melt). And, if you're going to simplify his arms like that, you might as well to it to his chest too. (Or you could add more detail in the arms). Same with his legs really; those look like some tight pants.
If this is your first serious attempt, that's pretty good.