That looks really nice. The comparison pic helped a whole bunch. The touch-up is exceptional. And the insignia on the blade looks awesome.
A rough translation of the words should be something like "Respect Throughout Generations" (or something corny like that), and the last three words should be the name of the sword (in this case, the machete).
This can translate into Chinese writing. I don't know about kanji....
Wood look's good and detailed phong makes it look really good :D
The blade is rather plain and un detailed i'm not a huge fan of the Chinese writing either,i think you would have added a slight bevel and inner shadow to the actual writing and patter n on the blade just giving it a small "engraved" look :D
Other then that looks good :D please make one withoutght the writing and grunge the blade up :D
If the sniper was asian this would be awesome...... Still ace though, love the kanji on the blade.
If anything could be improved you could make a new steel texture for the blade that looks like damascus steel....like a katana.