Not bad.. In fact, It was quite well done.
For your first sprite animation, I would consider this as a damn well job!
The animation had great speed and flow to it.
Content wise I still have no clue whats going on but who really needs story in an action sequence?!
Most people don't even consider adding bgm or sound fx for there first attempt at a flash but those elements are definitely the key to a great flash!
Critically, I would like to 'hear' more fx for the first two fights but otherwise I thought it was a good start!