A side shot is not enough to give a proper response to your question. For a proper conformation critique a side, front and back shots are needed, and a video would be nice as well to see how he/she moves. The picture you have posted is small and shows only a side view of the horse. Unless all your angling for is an "oooh pretty paint" response.
You asked for critique, Alwaysbehind gave you her response and you blew it off like it was so much fluff. Personally if I am purchasing a horse/yearling etc.. and both parents have papers and the owner is selling it to me as a grade horse I would wonder wth is up. Papered/registered horses are worth more, and since the market is so low I would assume that breeders would sell horses that could be registered at a better price then a grade.