I'm not HoboKa, but I am an avid participant, who has been long enough to know the ropes, and also has entered a lot of MnP. Think of me filling in for Hoboka (Assuming he's kind enough to let me, otherwise i get my A$$ kicked).
Meat and Potatoes goal is to use what's called a Conservative approach to remixing. So all source notes and material are present, and the mood presented in the original is kept. If you wanted to remix a aggressive DnB track into an Ambient track, you would be better at PRC, out sister competition, as they encourage originality, and creativity. Of course some interpretation in the MnP competition is allowed, and recommend, however for the most part, homing in closer to the original source is the main focus, as that allows us to appreciate the artistry that went into composing the video game soundtrack. Best to PM him if you have any questions. I only work here lol.
Oh well, thanks for joining in, and good luck!
TIP - if you want some inspiration, I'd suggest you check out previous entrants from previous rounds. They will give you an idea, to how they have approached remixing the original source, from that round.