Fence looks great, make sure it can be wrapped (texture looks continuous when item is duped and place next to original). Torch looks good, but should have a jagged top done with transparencies. As far as the model, it should allow for those transparencies with a top that is lowered past the top edges of the sides. Then it should be skinned to look darker and scorched. ALAS, please refer to the original sprite... thanks!
Slink: We've had trouble getting the transperencies to look right. Having a jaged edge there wouldn't help, it would just bring the ring a full circle and you'd see every part of the model all at once.
It's something LordHavoc is even stumped on... well not stumped. He knows what he could do to fix it, but It's more to do with render quality. If he changes it from what it is now, there could and probably will be a 50%, 60% or 100% hit on frames per second depending on quality of the rendering technique.