Really great blending here, and an overall clean miniature. Probably the only thing that caught my eye as perhaps off is the comparison of the 'surcoat' that Gandalf is wearing and the cloak. It almost seems like the cloak is too stark and the 'surcoat' is too warm. If the color of the surcoat was carried into the cloak, or visa versa, I think it would balance out better and not clash so harshly.
But that aside, this is a very good paint job.