i like the direction you're going with this, but there are some definite issues with the model - the tummy needs more massing in the top half - it looks a little deflated, as gec said, the arms need some work - they look flat and pinched in areas - you need to think about the muscles and bones underneath the skin and think about how they look. also, those wings - they just don't fit at the moment.

i really like the style of the character - i think you have the clothes spot on and the colors are great.