The Incredible Bouncing Bagel

I need some feedback from all you animators out there. I’m working with a client on some simple racing games to be animated with Flash. The first game involves breakfast food characters (donut, bagel, strudel, etc.) racing each other. This is a rough test animation of the bagel bouncing along. Because of the budget I have to keep it at about three basic poses at 12 frames per second. Whaddya’ll think? I’m not fishing for compliments, I really want to know. He seems to move kind of sluggish, not sure why. I’ve never had formal animation training so any feedback would be greatly appreciated.

Oh, and that’s supposed to be a “dust trail” of cream cheese squirting out of him on impact. Not sure if it reads well, but it’s something the client requested.