This isn't bad.
first things first, i realize you used a default font, but when i say default font i mean default looking; arial, garamound, tahoma. haha next time i reccomend one of those.
The blending at the top isn't bad but i'd liek to see some overlapping ontop of the gun, or something it just seems out of place not being blended.
The smudging isn't bad but you smudged it too much. You need to smudge with a small brush and vary it every time to give it lots of detail and changes.