Good, but not perfect. Ryo (and Shenhua too in the first image) should look like this http://i.imgur.com/kjW1BnE.jpg or this http://i.imgur.com/JIThlIf.jpg and Shenhua should look like this http://i.imgur.com/wmpbeDH.jpg Is this too much to ask for? There should be NO exceptions. If they don't look like this, then I will be very disappointed.
The exact same yesterday's Ryo model with just some fixed hairstyle is going to look exactly like your first example 8)
I don't know about Shenhua tho, we all love that amazing cg artwork but it's also very cartoonish and probably not suited for an actual ingame use.
There are so much radically different looking version of her out there that i wonder what they're basing ther new model on.
Ok, but the Shenmue Online Ryo should be the one that they must aim for. That is THE Ryo, it's perfect. It doesn't seem like the current Ryo looks anything like that, yet. Also, I don't think Shenhua looking "cartoonish" is a bad thing at all (even though I don't think she does, but whatever!) because the main point is that this version of Shenhua looks amazing. Just like with Ryo, they should definitely try to replicate this because it is THE Shenhua!
The Ryo from an unreleased MMO is the real Ryo? Not the one we went through two games with?