Yay, F-Zero! Been listening the soundtrack since a few days back. Ah, the memories...
This isn't the hottest song in the soundtrack, but it deserves some attention nonetheless.
The pads are clipping in the beginning, I think (or maybe it's just distortion).
Bass is pretty awful and MIDI and way too faint compared to the pads.
The brass is too loud, too. The drums are really boring, plain and faint, too. More punch, please.
I'm missing the snap and rhythm of the original. It felt like it was going someplace and this is just... stomping on the same spot somehow. I think it's mostly because of the drums.
I'd suggest not playing making the bass play non-bass notes when the pad is playing, or make the pad stop playing low notes. They kind of clash and drown each other out, and there's a lot of dissonnance in the bass spectrum, and the pads clash with the melody too, especially in 3:00 and on.
I think the main problem is the volume levels. Some instruments are way too loud and some that should be are barely audiable, mainly the bass and the drums. Try listening some some of Zircon's stuff, he always makes the drums very in-your-face in a good way. I think he's using compressors to do it. I don't mean you should make your drums sound like his, but study the way he does volume levels.