Another test, CVS Sailor Venus. Didn't like the (viewer's) left arm and the hair, but couldn't do any better. lol
The main reason it isn't working is because you are trying too hard to make it look exactly like the original reference sprite. It doesn't end up being a CvS sprite, but more like a sprite from a different game but resized and has some CvS-ish colors slapped on. If you're gonna convert a sprite from one style to another, you gotta make changes to make sure it ends up meshing well with the target style. Making these changes can also help prevent things like that awkward looking viewer's right arm (which might have worked in the original game's style, but doesn't here).
I played around with your sprite (Lord knows I need the practice) and got this out of it. I used Iori, Hibiki, and Athena (mostly Athena) as my references:
It's probably not the greatest example, but it gets the point across. A style-to-style conversion requires a full makeover; you can't just make it a carbon copy.
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