Yay, I love the theme of this song :3
To be honest though, I don't feel like the mixing is of as high a quality as usual, but I'm sure you'll get used to it once you've made more songs using your guitar! It feels a bit more empty than many other songs I've heard, but I don't know exactly what it is :/ Some parts work better than others though :)
Your playing is very good, but I don't think you've got a full grip of how to record your guitar just yet, but maybe that's just me :p
The composition and structure is of course, great as always. I enjoy the more "simple" and realistic style you've got going here. Lol; that echo which makes the scratch noises repeat in that way XD (examplewise 2:29 and 2:37). Good thing it kinda fits in the song.
Unless I'm compleately deaf, you're using different drums than normally, or you've just kept them more real. Although I don't know exactly what it is, I think that the drums could sound even better :/ At some points I don't really like the way they enter :D (like in the very beginning at 0:15, and at 1:34). Either it's that, or it might be that I'm used to hearing better drums :/ I have a two really good drummers in my class, and when they play on real drums it just sounds better than this, imo :) (Haha, that guitar thump at 0:07). Funny thing; at 1:05 the piano combined with the guitar almost sounds like a harpsichord :O
Also, I'm finding some parts that I think could've been made better (I realize you're just practicing your guitar skills, and I think you're doing quite well, but that wont stop me from judging the different elements like I normally would >:) ). For instance, I think that transition at 1:05 is pretty sudden. As Blue Oceans already said, it felt strange when the bass stopped playing. Also, that bass is pretty simple, but it's still effective, so no harm done :') At times, the guitar might be a little off beat, but not to the point where it actively bothered me.
Between 1:21 and 1:34 it feels like the piano and guitar don't necessarily mix that well together. It might just be the echo on the guitar that confuses my mind, since the piano is more precise. That short thingymajig at 1:32 is nice, but is it only me or is it a little too slow?
Finally, I think the ending might be a bit too generic, as well as some other parts of the song, but I must admit: I'm a sucker for this kind of music X'D
Oh wow. I didn't mean to be this critical, but I've already written 19 pages on six hours for one of my matriculation exams today, so I guess the mentality has kind of stuck with me :'D
Anyhow, great song! And my horses are running away, since I can't waint for the even better song you promised is on the way ;)