The game isn't much in its current state, but if you added some interesting enemies, and put in some real levels (like in a forest or in a dungeon), then you might be onto something.
I found a couple bugs. When you run around there's some serious terrain popping. At the end of the attack animation there's a weird frame. If you hold down ctrl, the character stays on that frame.
It crashed for me when I ran the exe, but running the bat file worked!
It's really good to see a 3d entry. You should highlight the character that you spent so much the time on! First move the camera in closer for now at least. I edited cameratune.cfg and moved it to (0, 140, -320), give that a go. Also the player and enemies aren't getting lit, you should try to throw some lights on them to give them more depth. Ideally match it up close to the terrain lights.
I also like the main character, although her animation is a bit stiff. The gameplay is pretty simplistic, and the 3D visuals don't really feel like a good fit for it. You could keep working on it though, add some more interesting combat, etc.
I found a couple bugs. When you run around there's some serious terrain popping. At the end of the attack animation there's a weird frame. If you hold down ctrl, the character stays on that frame.