IT might feel like FW if you are used to playing the collection ver of FW which uses the 2 analog sticks and very nicely I might add. FW wasn't design that way, so in all fairness it doesn't feel like FW, but it does feel like the port in the Crapcom collection. R-type? More like Last Resort if you are using Ruby and the other chick, but very little at that.
Omega Five is a great game and perhpas the best shmup in XBLV, I think it edges out the new R-Type and I karuga even though both games are very good.
PS: There is a thread for this game out there, I did the same thing and started a new one not knowing.