Give me some feedback of this pic of my son

I want to give the grandparents some nice portraits of our kids for Christmas, so I set out to experiment last night on my son (good sport that he is). This is my first attempt to shoot a "portrait" style photo using lighting indoors, so any constructive crit you can give is very much appreciated. That is, what should I look for in the lighting, etc.

Set up was one 580EX on a stand and shot through an umbrella on camera left above and pointing down, and about 45 degrees off center. I had a 430EX to camera right about eye height and about 45 degrees off center, shot through a diffuser. Speedlights were triggered with PWs. I shot a fair number of frames, and experimented with different placement of the speedlights and a white reflector. Speedlights were set to ETTL. I had a fair amount of trouble with shadows and hot spots. I'm going to pick up another umbrella.

Camera and lens, if it matters, were 1DIII and 135 f2, and camera settings were 1/100 and about f3.2 in manual mode.

Here's the best of the bunch after processing:

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Well , I'm no expert but I'd say that the lighting looks good , it's even and the photograph is sharp .. except for maybe he's left ear , tho I don't think it matters that much..

To the random newbie it looks excellent , I think using a different background would have been better .. maybe a "happier" one (?!) an happier scene..

This is a good shot but personally I wouldn't have processed the skin as much.

The skin is a bit overcooked and I would get rid of the shadow on the wall behind him. Back off on the sharpening a touch. I'd even blur the braces a little. Heck, as long as you are doing PP, you could clone out the braces.

Good and helpful comments - keep em coming.

As for the braces, that's where he is at this stage of his life so they stay. I'm not a fan of the background either, although it was not too important to my practicing and trying to figure out the lighting.

Thanks everyone.

I just think the braces stand out too much the way you have them processed. Maybe selective remove the shine from them.

I would add a some fill from the bottom, just a tad to soften the dip on his chin and the hard shadows on his neck. Other than that it's awesome!

Lighting of BG is uneven. I would've shot at f5.6 to give a little more DOF. Lighting appears flat.

Thanks again. This has been helpful. There have been several things mentioned that I didn't notice, and your comments will help me watch some of those details I didn't think about.

Merry Christmas all!