The Ending (Spoiler!)
I am surprised how many people have commented negatively about the ending of this film. Given the tone and style of the film, I think it ended the way it should have ended.
It would have been a real cop-out to see the film end with the John Sedley character kill all the bad guys and walk away. It was the whole point of the film that you can change your face, change your career path and try to straighten up & do the right thing but ultimately what comes around goes around and this character's fate was sealed from the beginning.
Then again, maybe that's the mark of good performance by Mickey Rourke in his ability to make this character into someone who you want to see succeed and continue the straight life.