Not bad, but the legs look a little short. They should be longer so the proportions look right. The proportions that people tend to use is the body is about seven to eight heads tall; this one looks like it's just a little more than five.
The arms seem like they aren't finished. They could use a little more detail, such as muscles or sleeves an some wrist guards.
Those are my only big complaints. My only other suggestions is maybe to shade the hood and body suit black and make the vest and mask more gray, and maybe do something unique so we know just by looking at it that this is Smoke and not some other ninja like Scorpion. All in all, it's pretty good, and I realize it's an older picture. I'd say it's a 3.5/5
I acknowledge the flaws in the concept (esp. the limbs) and I'll try to fix them with PhotoShop. Now that you mentioned of it, I'll try to make him look more Smoke, now that we know him a little better this year.