Thank you everyone for the constructive comments and your takes on the image. I maybe should have also fixed the skin tone, green reflections in the shadows, and also ran a noise filter before posting, but it slipped my mind. I also realized the need to tone down the hot spots in the blurred background as this distracts the eye quite easily, so thanks for posting the method for this.
The image was shot with a 5D and a 100mm 2.8, large softbox above and to camera left, with a kick light behind Jordan and to camera right, so there wasn't that much "Kodak" involved! Still every in focus image of a child playing is a good one.
Onto my edit so far, I ran Noise Ninja twice on two seperate layers, once for Jordan himself with less strength, then another high strength noise reduction with a lot of smoothing to help remove anything sharp from the blurred background. Next I used Selective Color to correct the green/yellow shadows on the face, then into LAB mode to give the greens and reds plenty of contrast and pop. Warmed the skin up a bit then added some contrast to the face. Also put in a mild vignette to help the focal point of the image. Still can't figure out how to tone down the hot spots in the background, tried a few different methods but it just doesn't look very good, Swampy could you please maybe explain your methods in a bit more detail? Maybe it was a bit easier because you had textured the background?
An update on my edit can be seen here -
http://shaunjquinlan.googlepages.com/editexample2
Unfortunately you loose a lot of quality converting to Gif, but it is a good way to compare an original image with an edited version.
Thanks again for the help, and looking forward to seeing a couple more versions, cheers Shaun.