Not too bad! Could use a little improvement though
The thing is, see, it's a good movie, but you're using crappy jpeg compression, or something similar, aren't you? These make sprites look awful, as if they had black lines 5 pixels out from them, and the colors get messed up too, and the animation just looks horrible with them, even if it's really good animation. (I know this from experience) Since you're using 8-bit megaman sprites, you can get by with GIFS, even if they are only 256 colors, because the sprites have, at most, 5-6 colors on their palette. And you're not using that many charaters, and everything in the background is just a solid color, or a bunch of colors and some text, and a few transclusent effects for the lighting, so you'll fit in WAY under the 256 limit. The compression is much much much MUCH better for sprites using GIFS.
Now, as for the actual review, it's was not too bad, for someone with not a lot of flash experience at the time! Good manipulation of sprites.
And for other reviewers: Keep in mind that this guy doesn't have much experience in flash yet, or at least he didn't when he made this movie. Come on, admit it, even some of you flash artists started out like this! Give him some elbow room!