Pretty good, except that using the eraser tool to "hack up" the gradient looks so ugly. When properly used, basic filters can add impact.
Noise+pixelate+gausian blur+white to black gradient on layer above at 25%+merge layers then threshold=the transparency map for this (green bg and 3D effect added after):

By playing with the gradient layer before doing the threshold, you can fine tune which parts look hacked out and which parts don't.