Nice work...
It's definently the most emotionally powerful song in the game. The original is much better but it is made by Koji Kondo and he has been making music for 20 years. I feel that the instruments you chose have taken away the emotion from it slightly. The notes aren't as crisp and there's not enough reverb. The quieter and higher instruments don't engulf you as much as there's not as large an array of tones.
I tried making a song that sounded similar to this and it was really good but then my laptop died and I lost everything :'(