not bad
The biggest thing I notice that needs to be fixed is the "shakiness" of the sprites. The feet should be stationary and should not move on the fighting stance poses. That was the only thing I really noticed but can't really notice more until I see a battle or two. Looks good though.
So, obvious question: Is this supposed to be an Elf Wars thing? and is hunter Zero supposed to be Omega? Just curious about the story.