I think it looks fine. How old is it? Mine looks about the same and is about a year old. The only part you can tell has aged any on mine is the roughout jockeys like that one. With a cleaning and oiling, it'll spiff up pretty nice.
And I don't mind the cantle of my saddle either, but I trail ride, not actual barrel racing. The Circle Ys I have ridden in have had much higher cantles, or at least more vertical ones. One felt like a freaking couch. I would have watched tv in that thing..too bad I don't have $1700 for a saddle.