Alright.
There's a significant lack of actual animation going on in this short, sequences are reused and bulletholes appear without any kind of bullet going into the wall first.
While the character's look great, it's also taking liberties with the actual scene it's paying homeage to. Why does the Terminator go for 0 casualties and then blow up a guy with a grenade? Where is Sarah and John throughout all this?
While the effects when done right, such as the Terminator getting short, it's let down by animation saving techniques. The rising in the fire has very little change in position or flow, the Terminator gets shot to ribbons before pulling out the pistol, the cops don't shoot back at her in the building after the minigun.
It's a nice short in some places but overall is not that brilliant, a good effort for early work but theres a lot of room for improvement here.