I just played the first mission.
First off, there are no descriptions anywhere of what the weapons were designed to do. I guess you couldn't be bothered to give the player that information. But that's okay- I had plenty of time to find out in the nigh-unwinnable first mission. The enemy fighters start shooting as soon as they arrive and don't stop until several seconds after I start hounding them, which means they all get a fair amount if time to hammer away at Iota wing.
The Angel turns way too fast, and damage is dealt way too slowly. Primary weapons were completely useless- I just maximized engine power and used missiles to do all the work.
The dialogue could use some work as well, but I couldn't really tell since there's absolutely no indication when a message plays. protip: use emptymsg.wav. Yes, you do need to do this.
The music and backgrounds are good.
I'll write more after I play more.
[EDIT]
Just played the second mission. That one bit with the Sunshine is obviously supposed to be seen by the player, but since the player is gunning for the enemy wing, it happens completely out of the player's view.
Also the Blade is missing a texture on the back near the engines. Not surprising since it's a Trashman ship IIRC, and quite outdated, but this sould be checked out.