He looks great! Like you said, it's not a very good conformation shot, and I can't quite see his legs, but here's what I think of him.
He has a nice, long neck, which is good for his breed. His shoulder slopes very nicely. His back looks a tad weak, as there's a good sized dip directly behind his withers and it's a little long (which most Thoroughbreds have long backs) but that shouldn't be too much of a problem. It looks like he might be cocking a hind leg. If he isn't, he is very downhill as far as his withers to the top of his croup. This problem might straighten itself out if he is cocking a hind leg, and if he were to "uncock" it. His croup is nice, long, and sloping. He looks like he has a good head, with great width between the eyes, and, although it's hard to tell from this shot, his eye looks soft. I can't really tell from the shot, but his hind leg looks a little bit too straight.
Overall, I'd say he looks pretty nice!