You could probably push some more detail into this if you used some more pixel-techniques...like dithering and aa and stuff, you know? Because at the moment...it's pretty 'bleh'.
The right leg blends in with the left leg that's being lifted...also the back and the shield sort of melt together, too--which is a result of your slight highlighting, which I actually kind of like. Looks like you forgot to light the sword though.
Oh, and there's a stray grey pixel under the sword.
But yeah, I think the main issues are detail and readability.