Nice job skipping the extra combiner parts! I agree about the fists, though - they look a little off.
I don't really think it has anything to do with which method is right or wrong. I mean, it's almost as moot as acrylics versus enamels. Both work. It all comes down to personal preference. I happen to like both methods. If anything, people will learn that there are options as opposed to subscribing themselves to a single method again and again.
I really like it, its a different take, loverly colour schemes, and an ingenious take on the combining!
I think this is a nice update on a G1 combiner toy. Job well done. The one thing that would make him better would be some type of elbow joint or something? Maybe transform the arms a bit differently so the legs can act as elbow joints? I know it can be done - a while back Sculpbot posted his Computron drill guy (don't know his name) and he had an elbow joint. Looked nice too. Overall, this is cool.
Just curious how did you get the arms and legs to connect to the body? Because I plan on doing the GIJOE version of them in the 1940's styled vehicles and I really wish to know. Would it be possible for you to pm me the instructions?