[Kwarde]

Hmm, nice made. Only the FPS should be a little bit higher: When I walk, I see my hands lower, not as good as in front of me (unless when I walk with my arms as high as possible and then lower my hands :P).
+rep for the nice and easy script (just looked inside the code).

BTW,
You should use the define/undefine stuff: If someone is using 'OnPlayerUpdate' and when you include this, you will get errors - So you should either use the 'ALS_OnPlayerUpdate' stuff, or tell people to place this inside their gamemode/filterscript.