A lot of potential, really good! Sound is cool, graphics fit nicely.
The "collision chaos" is really difficult to predict, sometimes the gears stay alive a super long time, sometimes they disappear very quickly. Also, you could test adding a bit more random to the gears: when you send it between two parallel planes, they go back and forth pretty straight until they disappear. Maybe you could increase a random addition after 4 hits or so for example?
Looking forward to the final result! :)