The side view actually looks pretty cool. But, like others have said, the lighting shouldnt be as strong as the source. And the rest of the mini need to be worked on. The white is really thick. The black has no highlights. For starters, thin your paints.
Oh, also. The light on the bolter should be much darker. The brightest light on it is as bright as on the breastplate. Since it's around twice as far from the source as the breastplate is, the light should be half as intense (high school physics at work)
It's a start, but it's far from believable. First of all, your metallics need shading. They're just stark silver and it looks pretty bad. Now about the cast light. It should be toned down...a lot. Light cast from an object should never be stronger or as strong as the source of the light, but the breastplate looks stronger than any part of the sword. Take a look at some other grey knights terminators (search them, sort by descending ratings) and there are a couple similar minis with blue swords casting light that are done very well. You have a good start, but you should take more care to get smooth blending and tone down the cast light a lot.
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