Ok, you want accurate opinions, let's go:
Music: I don't especially like the music, too slow and sleeping I feel. The sound in itself is really good, great stereo sound but the compositions are not what I would wait from a shooter. It's very personnal, and the fact I have really extreme musical tastes doesn't help.
Graphics: Ok, the good point of the game. Good graphics, really "Treasure-ish". I bet this game has been released on Naomi, right? If not, it's exactly the same explosions and FX.
Gameplay: Bah, I don't like the gameplay, the "choose type" thing. It had nothing more in the game in my opinion. And you need to hold a button pushed to affect the formation of the bits, REALLY annoying.
I won't spend more time in describing what I don't like in this game, it's not worth it. But if you want the main thing I don't like, it's simply the soul of the game, or the lack of soul actually. I plays like soo many other games. Once you finish it, what I still haven't done, I'm sure you put it on a shelf and that's it. No need to speak about the shield thing that makes you invincible during the whole play.
Shield + type 4 rotation = boring to death. Oh, just thinking, the game is too long dammit, and if there's one thing I hate in shmups, it's the too long games.
Anyway, I'm not a horizontal shmup fan so it doesn't help. Don't get me wrong, I like the game in somewhat manner, but this is just that it's flooded among so good shooters around.