I don't have much to say other than to echo what everyone else has said. I think the style is ok, though I personally prefer it's cousin the chibi. The leg on the left looks like it's dislocated at the knee, and the feet are too small for how the style has been set up. Think of it in terms of the artistic logic you were speaking of. He's TOO top heavy. Top heavy characters are fine, but his hands and head are exasperated. Since the limbs and torso are diminutive, this means if you still want a round cute-ish character the extremities need to be enlarged. You did that on the top, but since they're enlarged, it makes the feet look too small (even though they're more proportional). It just doesn't fit the logic and style of the style you're using, in my opinion, so enlarging them would help alot. (don't worry if it looks kinda like a hobbit.
Other than that, it's REALLY well drawn. I think you did an especially good job on the hair. Hair is my weakness.