It is her chest, but not the whole thing. It's an awkward pose as usual, and my shading didn't make it very clear. On the other hand, I do agree that it sticks out a bit much, but if I shorten it any there won't be any signs of a chest at all. Oh well, perhaps it's necessary with the pose. Agreed that it does make the torso look thicker too.
Those aren't bands - they're layers. Yes, they look flat, and that's the primary problem, why you can't even tell that they're layers. If you'd seen the photo you would've known, but I didn't think it would be very clear otherwise either. Like I said to you directly earlier, I'm not really sure how to work with those layers, the shading of them (you thought I meant Photoshop layers, huh?).
Oooooooooooh, pwetty! It's such a soft, beautiful image... The background is so nice and pastel-y! You always make such neat backgrounds... ^-^ The hair looks so real, too... You can practically see the individual strands! It was a nice touch to leave the girl barefoot, too, and you chose a perfect skin tone to fit the softness... I don't see any problems with the arms actually--it's actually a pretty charming pose!
The only place I see that might need a little more work is the dress... The colors and design are purty, but there's a few little awkward bits, like above her right arm... I'm not sure if that's a puffy sleeve or her chest... If it's a puffy sleeve, the puff is more pronounced above the shoulder and comes close to the arm at the bottom of the sleeve... And if it's her chest, her breasts wouldn't stick out that far... Torsos aren't really that thick. The bottom, where the colored bands are, looks a little flat instead of part of a roundish dress. A little more shading and/or highlighting should probably help that.
Pwetty pwetty picture! I'm looking forward to the final product--I'm sure it'll be even more beautiful!