Those textures are soo slick man. You could pretty much model anything and make it look awesome.
Anyway, the shadows don't seem to match the light source, they're much too heavy. Plus, your reflections show it coming more from the side, rather than the direction the shadows point. Also, I don't think the refraction is quite right in the magnification glass.
Great job on the materials and placement... Only thing i see missing personally is some effect with light on the ground from the glass.
Other than that grate idea... would be very cool to see the other guy a little burnt, a little smoke... just a suggestion.
I figured someone would say that. Actually if you look hard enough, you can see that the leg is just covered up by the shadow of the magnifying glass. I probably should have fixed that. Oh well Thanks for the comment.