Ooh, one of my favorite vg tunes of all time.
This is... well, it's pretty much a straight up cover, with a couple of wrong notes on the lead guitar. And to clarify, there's nothing wrong with straight up covers, especially when the source is as unbelievably awesome as this, but keep in mind you'll need a lot more interperetation if you want this mix to get past the judges.
Production is a bit wierd; the biggest issue is that the bass has far too much presence, making the leads weak by comparison.