Comparing the new version to v0.1, I have a small critique, but mostly praise, commentary, and ideas.
First, the critique: The level curve is not great. It's dangerously slow at the beginning, leading to a lot of early deaths on waves 3-5. However, once I managed to get past that point, it got too easy to get levels, due to an overabundance of experience and the safety of having so many devour range upgrades.
As for Praise: Limiting the fire rate was a good idea. In v0.1, it was possible to just slaughter everything as soon as it spawned, so stopping that was definitely for the best. I'm a little less sure on the removal of bullet collision, but it did make the game more fast paced.
Some other notes I have: The enemy variety is fine, but perhaps difficulty can be increased by adding tougher versions of the basic enemies after wave 4 instead of just increasing their numbers? Alternately, making the individual enemies a little tougher would also help, since the bullet hell of later levels is quite the threat and giving the enemies more health would mean that more enemies are on the battlefield at once.