I too think she looks good for winter. I'd like to see her slicked out and more lean muscle, come spring /early summer.
I wasn't real clear on her breeding either. Assuming she's a QH, I'd say she looks in good winter condition. Maybe drop 50# or so come summer. I think a lot of good owners tend to keep their horses on the tubby side. ( I'm one of them so don't think I'm pickin' on ya!