An impressive homage! The character resemblance is spot on from everyone in the picture, and the man himself looks good, charming and expressive. His neutral suitmakes the characters stand out more too, and they really liven up the picture. I like how it's all framed like a photograph, also with a subtle background, so that even though it's a living picture you can see that it's a portrait brought to life. And the Looney Tune background moves him away from the real world too, like he's immersed in their universe.
Wonder how you started out making this? Are the characters in the picture all drawn after references with the same poses (they look pretty familiar), or your own? Interesting seeing the working progress, very planned, even from the beginning it seems you had everything mapped out. :) Nice work!
-cd-