I'm 50/50 with the face plate. One of the many things that most caught my eye about MK1's graphics back then was kano's shiny chrome faceplate in his fighting stance, even with the low resolution you could see that thing glaring reflective light off of it. The later versions Gojira posted I like a lot more, they seem shinier, so I'm just curious mainly about how it's going to do with reflection in the fighting stance.
Gojira: I don't know much about 3D software but I wonder if you'd have to build some random shapes to hover near his face plate so the plate would have something to reflect? Maybe that's why the chrome effect didn't look right to you when you were trying it. Not sure if that's how that works though.
Either way I think what you have now looks good and should work.
gojira just have to use HDRI material, it will reflect an entire environment, of course with a lower intensity than this picture.. and everytime kano move, you will see nice changes in the reflections.