the design and overall look of the game is very impressive. i think you captured the arcade-y feel very well.
the gameplay is good, but difficult at parts. the lack of fuel near the beginning makes the first section fairly hard to get through. also getting hit by more than one bomb at once kinda screws you due to the lack of invincibility frames. like 3 AM mentioned, some extra lives would have been nice.
regardless, i enjoyed this game quite a bit; it was a pretty cool shoot-em-up. well done with this!