I belive it's alright, though I'd prefer making some more flexibility in the sprite, it looks a bit like a puppet falling down freely. Hmmm, how should I explain it..to me it appears as if a watcher is looking at it from the upper center angle but a bit more towards the center of the head so the image goes into narrow continua to the legs. Lowering the angle towards yourself the body would balance.
To tell the truth though, I loved Kaiser Ragnarok style characters, too bad no one is making them as much as they do these one. Kaiser was making a massive chipset, though, but I don't remember anyone seeing him for a longer time.