Well, right off the bat I'll tell ya that you screwed up big time! Your pictures are waaaay too small and that sheath looks really really nice!
The inlay in two sections is a great idea! I especially like the fact the the two sections are differently shaped. Having them both identical would have made the sheath look like some cheap factory made import.
I'm a big fan of leather braiding, and braid almost all of my sheaths (my wife says I make the sheaths just to have something to braid!) and your choice of braids is perfect for the size of the project. I tend to go overboard with them myself. You've chosen a good color combination for everything too.
My only complaint is the clip. I just plain don't like them. However, in this case you were making the sheath for someone who specifically requested the clip. I prefer a three-layer Velcro closure. Other than that, and the fact that you made the photos too small, I'd say you did one hell of a fine job!!