The following is a walk cycle test created within Adobe Flash and Adobe After Effects.

If I am to use this in the final project it would be looped.

This consisted of 4 different feet images, 4 different leg images and 1 image of the body.

I feel it works well but may need to be sped up if I am to use this. This is to avoid the image of sliding along the floor.

 
Leg Down                

 Leg Up

This image would also be rotated.

 Foot Down

Foot Up

This would also be rotated.