Well... well... WELLLLLL!!!!!
I guess the first thing to touch on is the length. I mean by my clock it went for like 40+ minutes, which to me is way WAY too long. I will mention the fact that you put alot of care into the sprite animation and the action sequences because it really does show, but as teejay said the whole thing story wise was too thin. I found the fight with that little bird thing extremely confusing too, I dunno if I missed something or what but then the random characters popping in got a bit annoying, and I didn't know whether to laugh because it was making fun of itself or if these characters were part of the story somehow and it was just confusing.
I see potential with this series, thus I implore that you DO NOT use SMBZ/DBZ styled fights in the series. It's overused and hurts the experience I think, I appreciated the fact you used different sound effects for the punches and kicks too. Also voice acting instead of text boxes is always a big plus, and I thought the voices were pretty good.
Overall I will admit I found it interesting, and the use of sprites was exceptonally good and I am interested to see what happens next. Remember anyone can do sprite fights, but only those with REAL talent can write a good story so you should focus on making that. Go for a bit shorter next time, maybe around 15-20 minutes maximum? Apart from that, keep it up.