A few bad things first (ignoring the compliment sandwich), the picture of WW Link is too big! You have a sprite the size of his eyeball! Maybe resize that, as it's not even what you're doing, it's just a reference.
Also, Link is looking a bit fat. I know MC sprites are like that, but his belly sticks out as far as his nose. It made a bit more sense for him when he was wearing a tunic, but with pants, he just needs to slim down a bit.
Also, the transition from his chin to his shirt is a bit indistinguishable.
Other than that, it's an awesome sprite, and a really useful one, not too many Links without the boring old green tunic. And MC style is just nice, I think.