In both of the photos Dragon posted you can clearly see the landing gear door is grey as compared to the OD uppers. This is a common mistake many make -- poor photo interpretation. You WANT it to be odd/strange so you see it that way, and create your own self-supporting proof. Unintentionally, for the most part, but still inaccurate. No P-51B/C had OD unders. They were factory-applied colors. They had low demarcation lines (as mentioned) but they definitely had grey unders.
Yellow stripes weren't just for looks. They were a standard feature with standard placement and dimensions. Your inboard stripes are too narrow by about half.
You've added a lot of chipping on the vertical stabilizer but this isn't held up in the color photo. The combat damage photo clearly had something explode near the tail (cannon shells? flak?) which would probably blow some of the paint off or scrape it off with shrapnel. I wouldn't use that as a basis for what the plane looked like when it took off. They maintained those airframes fairly well. Look at both the color and the black and white photos and you won't see the kind of missing strips of paint you have on your skin. There's also a logical error in the chipping being on top of the red. It would be under the red stripes (which are the most recently applied in this case, the freshest paint).
You don't have a serial number under the red stripes, but it's clear they applied them directly to the plane as it was. If you're using a specific plane put that serial number on and move that layer under the red stripes layer.
Finally, the color photo you show has no red on the wingtips. Having multiple stripes on the wings are quite common in some form or another (especially on P-51s and P-47s) but the red wingtips are a little odd unless you have another reference you aren't sharing here. Seems the wingtips were standard OD-upper/grey-under.
Overall it's a decent start, but you need to do a little more work on the details that go along with it.
