Ok first off before I offer criticism I want you to know I really like the work you did it looks great, I just have 2 minor suggestions.
First is the medallions with ribbons coming off of them look soo much better if you add the written effect on them alot of people have pictures posted in P&M of what I am talking about but it makes them look really dynamic.
Second the 2 blue splash effects you did on the pistol need some work because right now they almost look like brush mistakes, two things that improve how it looks is highlighting around those holes a little better with a darker blue to make it seem like energy is pouring out of the pistol, or only have the splash coming out in one direction so it look like it is venting either way will look excellent.
Again great job and I second the ink wash idea, it will really accent your work well. Post more as you get them done.