Hi Roja,
thank you so much for the points! 
You are right about the lightning - people say it’s great but I’m afraid it’s not totally accurate. I guess you’re more keen on lightning than 2D artists for while making 3D scenes illogical light source will be visible right away, more clear than on 2D where brush strokes can cheat the viewer. My idea was the strongest light is in the bottom in front of him and on his sides - the source of flames; where flames get higher they are colder and darker (these shoul be behind him). And basing on that idea I lighted the guy but I am not sure if final flames behave the way I see it in my mind. Plus they supposed to look wings alike. Adding more details would help to make it (though I didn’t want it to look literally like wings) and more realistic. Yet time was running away and the same time people kept telling me contradictory advice to add less details to the background to keep focus on the main character. Maybe that’s why close up looks better for in the whole image the fire takes over the image, although I finally haven’t detailed it more and darkened it.
Here is the finished version, I haven’t posted the link (in my portfolio):
http://forums.cgsociety.org/showthread.php?t=600134
And here are some details & close ups:

Unfortunately details are gone in the resized version, even after extra sharpening them. I need to find a way to keep details visible after resizing on such large images. Same time I want them to look good on large prints, I hate blurred prints. I bought some myself and was disappointed about the blurriness on a few. I see some artists make the whole image blurry and leave only some elements sharp (not talking about a depth of field), so it looks right after resizing. Only I don’t know if it works for large prints.
And about the leg - well I hid it as you see, it’s bent back and I expect he has to put some effort to walk through the waves, but I am not sure if it is anatomy correct. Noone complains about it, so maybe it works for the image.
That cover around his legs is a kind of scale mail, inspired by Warhammer elves conceptart (the high elves). I was going to detail it more but after browsing various artworks I decided it doesn’t need to be detailed. In fact to have a more interesting mood and image not screaming ‘it’s digital!’ I should leave more less detailed/polished areas. Like on a traditional painting.
I will continue the latest WIPs probably somewhere in April, I should finish older images first and do something for a contest for Silmarillion inspired art.