Ok, it's finally finished. I might have to print up a wider background, I realised while taking pics that this one didn't quite cut it. You get the idea though. I'm thinking of installing a red LED behind his eyes, but it depends how much room is in his head first... Either way might take some more pics with better background later.
Here are the pics of him in bot mode (I apologise for the orientation of the pics, they are the right way up in photobucket so not sure why they have rotated here... If anyone knows how to fix it, please advise).
Without cape or gun
Head close-up
Leg close-up
Torso close-up
With cape and gun
Comparison with original toy
Hope you all enjoy, I'm pretty happy he's now finished.