Quite nicely done, especially as it's not done in After effects.
For the bullet trail the words you need to learn are 'displacement map'
Problem for me though is that the bullet is clearly going very slowly (for a bullet) but the live action stays at normal rate (even though he tries to move slowly).
I do like the way the camera shakes clightly as th ebullet reaches it. nice touch.
Wanna leanr more on this subject then you need to look at
VideoCopilot.net Video Tutorials & Post Production where Ak shows us all how to do exactly this very properly.
edit: just noticed someone beat me to the link. Sorry Fluffy.