@randarrington If you cover the face of the watch it may reduce the viewer's ability to recognize the object as a pocket watch; especially for the younger audience.
I wouldnβt be too concerned with people interpreting the image differently than your intention. While I agree about the issue of how the paw is holding the watch, I do like the initial hand position. The rabbit looks as though it is presenting the watch to me, directly communicating, "Get out of the way! Look at the time. I'm late. I'm late."
The posture as it currently stands is great.
The environment looks convienently spaced around the rabbit, oppose to the character navigating the landscape. For example, the tree behind the rabbit is bending at a 30 degree, but no roots sticking out of the ground or growing on the path and not chopped to create the path. The root underneath the rabbit bends safely away from tripping it. The grass undisturbed. I think the composition would benefit if both the character and the environment reacted to one another.
Shouldn't the coat end be behing the left tree trunk?
As for the colors, I did think there were too much blacks. Have you considered subsitute black with color to simulate color casts and tints. Something like a N.C. Wyeth illustration. However, one can argue the 'real world' are greys and blacks and Wonderland is in technicolor.
I'm not sure what to say about the ridges. It depends on your style. Do you want to go for a realistic, photographic look or more impressionist? Your question made me think of the illustrator Chris Buzelli. He's very detail oriented, but not a hyper-realist. Take a look at his execution.
I do like the quality of the digital piece. It'll be an awesome painting.