Hey man, that's cool
Yeah. I'd definately finish this guy. He's one scary looking mother. The open chest idea is fantastic, really makes him evil lookin'. (If his face didn't give off that impression already!).
For colours I'd recommend just pure black cloth, and his bones a nice bleached white effect. You could give him nice glowing eyes too. Yellow would make him seem very eerie!
Textures already look good to me man.