Wow, thanks for all the positive responses. Wasn't expecting that. To be honest, I didn't plan on doing too much improvement of it. Seemed fine enough to me. But I have done a few minor edits to it based on your comments.
1. Changed the particles for his spell attack animation into something more fitting for a mage.
2. Fixed his hair so it doesn't clip through his cape while he is standing.
As for the comment about his feet and satchel being too big, its the same size as in the original human mage model. I'm not sure if I am going to do anything about it. Especially since most units in the game are portrayed with pretty big feet, so I think its par for the course.