the wrapping is still wrong although a step in the right direction.. look at this picture and see how the wrapping itself is actually not so wide and how it comes around from both sides to form one "X"
I'm not a fan of your sculpts colors, but I reckon those are just temporary? Also, are you aware that the wrapping of the handle is completely different? A katana generally has twisted wrappings (like the concept) but yours uses a basket weave.
Man, last night I made the worst freaking photoshop action possible for texturing. I was trying to create an action to update a smart object if its been altered in a different program like 3d coat and I ended up creating an action that basically collapses all the layers, saves the file, then closes it! So stupid. I guess…