You definitely nailed the space part.
This is a great background track, but as a tune itself it doesn't seem to have much carrying it along. Also, this isn't old school or even retro to me. Very well edited though.
I tossed the melody around to a bunch of instruments, which messes with the fluidity of the piece.
I have limited experience with retro gaming...
I liked it, I can tell you enjoyed making it by the quality of it. That's the important part right. I think you'll do well in the contest to be honest. This song is really good. Congratulations.
P.S. Good luck in the competition :D
Luck is out of my hands, but thanks!
Please contact me if you would like to use this in a project. We can discuss the details.