I love me some handpainted art! Does that base platform texture tile (it looks like it does), it might help to tile it some since in both resolution versions its the most noticeably blurry. Also the trip around the base could benefit from matching the base colors more.
This looks great! My only nitpick is that the top of the stool isn't uniquely textured like the rest of the scene, it looks like it's borrowing it's texture from the table so there's no edge highlights.
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I would also go with the 256 texture, still looks good to me. And for a hand painted texture you won't lose a lot of fine details.