Looking awesome so far man! I'd make the arms longer, the traps larger, and the pecks larger. If you look at the reference his pecks are huge but his rib area and abs are a bit skinny--kind of that hero proportion. His face also looks more dopey than the concept, he has smaller eyes, less wide nose, chin pushed out a bit further and it's a little pointier.
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As far as the texture goes, yes only diffuse
Again loving it so far, keep going!
here is my progress. blocking parts of the armor