Nice stuff as usual
Just to be pedantic again (can't help me, sorry ), the scorpion axeman should have his axe the other way around. I mean that it should have its blade heading about 30 or 45 degrees more to the back. Basically, when you're about to hit with an axe, that's how it should be. Try to reproduce the movement with a stick and you'll see what I mean
Regarding the video, that looks good. Once I've managed to change my old laptop with a better one, I hope to be able to try some other 3D soft like Blender for instance. I'm convinced that they can allowed better results than Milkshape 3D even for games such as M2TW.
Since I'm using Photoshop, I can't use Gimp anymore