Great, but slightly flawed...
I think this game has a very interesting premise and decent graphics, although some gameplay elements made this one a little tough to appreciate fully...
As someone before mentioned, the missiles are a little too fast. I can understand that, as the game progresses, the missiles become more deadly... But I can easily be defeated on the second or third levels unless I'm watching both my ship and the enemy simultaneously. I also encountered plenty of homing missiles, which brings me to my next point...
If you ever make a sequel, could you integrate a mouse-based aim for the ship? I found that on either aiming system, I simply could not destroy homing missiles accurately enough. On Auto, I could wrap around the missile and line it up with the enemy, but I would usually die if I missed said missile on that first turnaround due to its speed. On Manual, I would need to destroy that missile -and- focus on other dangers, while trying to center in on the boss. Both systems are quite hectic.
Like I said before, this game shows lots of promise... It's just got a few kinks.