hmmm...
Well first off, to me it mainly looks like just line-art filled in with color. I noticed some attempt at anti-aliasing and creating a volume for your weapon, but much can be improved. Some lines just look too dark and heavy and can be replaced with medium tones in the sword. Infact, you could probably do without some of the lines and just seperate section with tones.
And on tones... the tones between the blade and hilt are fairly close, and you can stick with one branch of tones for the whole sword and get rid of the other tone branch ...unless you specificly want the blade to look gold and the hilt to look bronz.
And finally... one thing that really peeves me about the sword is its angle. It's almost at a 45% angle, but not quite, so there's a little distortion in the lines which you could do without if you made the sword 45%. That or do some damn fine AA to really smooth out the lines. ...Which brings me to a question... do you plan to be able to drop this sword on any background, or is it going to be apart of one particular background? Because if it's the latter, than you could do some AA on the outsides of the sword too.
Oh, and I noticed some placement of light pixels against some lines that look odd and out of place. You should get rid of them.
