Holy crap! Outstanding work!
I dont really see the point of remaking a recent games model that was superbly done in the first place, but i actually think you have improved on the squaresoft model! His face looks more realistic and less girly. It looks a lot higher poly than it actually is too, thanks to the excellent texturing, but i think the cloth creases are a teeny bit too sharp, and his head seems a tiny bit small. It would also be really nice if you could put him in some intresting poses too.
Superb stuff either way - ive been a huge fan of your red cloud model - one of my fave games models ever!