I came across this theme in the intro of the Mega Man X RPG game, and although I'm a huge fan of the original Mega Man saga music, this one stood head and shoulders above the other themes.
How great a mood you set right from the beginning, with the needle-on-a-record crackling. The music box melody is so well done, it is indeed ideal for a "flashback" setting. It even "winds down" at the end. The orchestral piano and organ accompaniment adds a nice haunted house, Castlevania feel. This is the best mood piece I've witnessed in my time on NewGrounds. Every element is spot-on, the sum of which makes for a perfect background storytelling/old memories theme.
Whoever downvoted LordofFlame's review 8 or so down from here is insane! He described the setting this song takes you better than I could have... a child hovering over a music box in a dusty old house, both of which dissolve into thin air when the song ends. What an eloquent way to describe this piece; I agree wholeheartedly. I'm going to upvote that review as many times as it takes to get back positive ^_^
What a wonderful piece you've crated. I don't review much music on NewGrounds, but this one moved me to do so. Bravo.