matt, You need some space between your um, extra parts, and the butt end of your club
also, you dont turn your hips back much in the backswing. Look at gregs link to great swings and watch tiger, in the first 60* his shoulders turn his hips turn 45*, then his hips stop and the shoulders turn the rest of the way. the hips should turn free in the backswing untill they have coiled against the leg, then the shoulders finish untill they are fully coiled against the hips. Go here http://www.golf-tuition-online.com/g...ailed-you.html (A great set of Pro swings detailed for you...)
watch tiger and when you get to the end you can go frame by frame
you downswing plane is steeper then your backswing plane, looks like you pull your arms in too much at the start of the backswing but I cannot go frame by frame and see exactly.

sum it up,
more space between arms and butt end of club, when drawing a line straight down from the top of the right shoulder it should go somewhare about your right pointer finger, maybe a little farther out, but not farther in which is where you are
allow the hips to turn back in the backswing, this coils them into the foot
have arms go more up rather then around.

and btw, dont try to go step by step as in the 8 step swing, it will just mess you up

that is my .02