This is MUCH better, in fact it's starting to look quite good! Add some nice shadows and it will be perfect.

I also suggest that you let users with weaker hardware turn down the effects with a few button presses. All the effects should default ON, though.

EDIT: These screens look nice, but I also implore you to write a good, smooth player movement script to go with it. ALL movements -- including the movements of the gun -- should be realistic, smooth, and well animated to give the best effect.