Halfway through it now.
Seems pretty good, there's some cracking Fredding going on here. The custom models arn't up to much mind, and the voice acting is just terrible (Bom-Bers lawl).
The story doesn't sit right with me though, I mean why would the GTVA actually take the fight directly to the Shivans? It doesn't matter if you made this big ship with some huge guns on, they have a gagillion juggernauts to ram in your face.
[edit]
Just finished it. Again, pretty cool. Shame about the premature ending. My major gripe with the Fredding was that it doesn't make enough use of the escort list at all, requiring you to target lots of stuff till you find the ship you need, groah.