I really like the juxtaposition of the old 1930's war writing and the game itself, very cool concept and it plays out well. I finished it to the end just to see how the story builds, and I like that it's slightly vague about what exactly is happening.
The art juxtapose well, the backdrop below the fog sets the mood well. I like the retro sci fi feel. Would have liked some more enemy types or (visually) or additional areas (backdrops) but these are little critiques.
Mechanically, the end timer didn't work for me, it stayed at 4:00 until the final moments. My fire button was also jammed (didn't have to press CTRL) which didn't effect the gameplay much (made it easier I suppose, though you tend to keep your weapons firing in these games anyway ^^). I think lives are a little disposable in this, as there is no penalty for dying - having a limited supply with an in game way to add lives (double health pickup, new pickup, etc) would be cool.