Well thought out.
First, take out the guitar, and replace it with something else. Too scratchy and distorted for this song.
The intro was good, but it could have been better. It felt like it lacked pattern and progression.
I would have liked to hear an organ in this song, I think it would benefit it overall.
I could picture this being used in something like a cutscene in Final Fantasy in a particularly mellow area.
Lastly, the song may benefit from vocals. Try playing with it a little.
Please contact me if you would like to use this in a project. We can discuss the details.