The arm looks fine. The muscles and veins in the arm look entirely realistic, while the weird distortion in the elbow is a scar. (Well, it appears to be a scar. It might just be a particularly creative vein)
Yeah, anatomically, it looks fine, the vein down the bicep and on the hand look good, especially during a battle, the blood would be flowing and veins popping out. Mine weren't present because I was not doing anything strenuous and was at a resting heart rate. My actual issue is the lack of presence of tendons in the hand... When the hand is raised like that (as shown in my pictures) the tendons raise quite a bit. And hands aren't really the most common location for storing fat, especially the top.
Lets compare again then.
http://imageshack.us/photo/my-images/193/28860319.jpg/
Your fore arm is still longer, I put your arm on top of the game pic and then just pushed it to the right.
Well I tried, if I have to try as hard as I did to replicate it, and it still is that off, they need to work on it. That or this guy must have some short forearms. I mean, I am 6'2" but That shouldn't make that big of a difference. Especially if he's a nord here, but we dont know the race. I wasn't on either side, but it did look right to me at first, and thanks to the side by side, I can see some problems with the anatomy design of the shot. I do agree that I more than likely wouldn't notice during a fight, but it is a slight bit disturbing.