The second iteration is, indeed, much much better! Not only the rendering but the refinements on the face are awesome!
Other than the left arm that @HANDRO already pointed out, it feels like her torso is also missing a few details. The way her left breast is connected with the body and clothing seems odd for some reason (maybe is my mind playing tricks on me).
And I'm also left wondering, if with the amount of glowing coming out from the sword and the top wings, if the lighting wouldn't be even more intense?
But again, amazing job on the new rendering!