I love any thoroughbreds and this little lady is no exception, she's beautiful.
I would have to say that my only complaints are that her front legs are too far underneath her body which might be the way she's standing but if this is natural it might mess with her ability to collect her back up and round it out. She looks a slight bit cow-hocked in the back. And lastly where her neck attaches to her whithers is quite low with a shorter neck than what's proportionate to her body, which also may affect her ability to move her back up and round out underneath her rider, making her smoother.
Otherwise though she has absolutely gorgeous muscling in her hips and shoulders and she doesn't look all steroided up like some of the TB I see. She has a nice wide chest for a TB which can help with heart and lung capacity, enabling her to be a better overall athelete.
Cute little mare.
More work will definitely improve :) her sire is very toned, she wont ever be like that because it seems her dam has interveined a little but no worries..