Really well done, quick notable by the fact that diagonals move speed are equals to the others (by rotating, the ship create a circle, not a square like many famous crappy games).
Here my contribution to who is crying for the gamepad controls. ;) This guide is usable for "Project SHMOOP 1" also.
Extract the game exe with 7z, you'll se all game files and the REAL "shmoop2.exe".
Open "XInput Plus" (sites.google.com/site/0dd14lab), choose the new "shmoop2.exe" file, and swap buttons as you like (will be created custom dlls in the some folder and a ini file). Also you can disable all buttons ad use Xpadder (v5.2 is better, it doesn't dirty your system) to do the job.
Obviously, the best commands are:
X = Shot; A = Bomb; LB = Burst; RB = Speed.