Finally after knowing of this place for a considerably long time, I have a genuinely outstanding reason to register. XD
Firstly, may I say that I have been playing Xeno Fighters for a good while now and I absolutely LOVE what you've done with this new version in Game Maker. I especially like what you've done with the Raiden MK-II, the Plasma beam is excellent and is perfectly accurate to to original version except for one small glitch in where you move with the beam and when it settles back into straight position it gets jagged. The Thermonuclear Bomb looks much more realistic compared to the MMF versions of Xeno Fighters.
Also I noticed that the green thrusters do not show when the plane is in the middle of an explosion such as its Thermonuclear Bomb.
May I suggest that (in the much later versions of this remake) you have the Raiden MK-II Beta with its faster speed as such? While it is a clone plane, I feel that it should be quite a viable option as it seems rather under-rated for a alternative option to the standard Raiden plane.
Secondly, the soundtrack is rather good as it is, although I feel that the old theme for the second part of Level 4 and the Final Level theme should've remained as it was. Nevertheless, the room for change in the soundtrack is quite pleasing as there are not that many games which have that freedom. And I quite like the original Jade Hydra theme, nice change from the dark and sad theme that drags on with the rest of the stage.
Thirdly (for those with issues running the game at reasonable speeds), I recommend using Windows Task Manager to terminate explorer.exe and increase the priority of the Xeno Fighters program to High. On my rather old PC (1000 Mhz, 32 MB Graphics card and 512 MB RAM) I can get more reasonable speeds with this, especially as the Raiden MK-II's Lock-On Beam is more CPU-consuming for older PCs than the other planes.
Speaking of the other planes, a friend of mine finds Miyamoto a strange ship to be in the selection with all the other planes as its a figure rather than a plane, although I beg to differ, as such variety from different SHMUPs gives yet another freedom not seen in many games today. In fact, the Miclus would be an interesting choice to include as well.
Lastly, I think the graphics are quite good as it is (as of v0.1a) except for some glitches in Level 3 where the craters are a few steps above their actual place. Especially compared to the MMF version of it where everything seemed "cut-and-paste".
Sorry for the long post, I really enjoy this game and I had a lot to say about the stuff that's been mentioned in this thread so far.