He looks cute, but I agree with the posts about his straight shoulder and pasterns. He looks like he will have a short, choppy stride, which for pleasure/trail riding wouldn't really be a huge issue, but it wouldn't be good for competing. I also don't like how his neck and poll seem empty/ewe shaped. He doesn't look like he could round himself very easily.
A good horse is worth more than riches. ~ Spanish Proverb