Ok I have taken a look at it...and I must say its quite nice, but some things bother me a little.
1) Even if the filesize is bigger make them in a higher resolution like 640*480 or 800*600.
2) Don't do the blackbars so big...give us a little more to look at ^_^
3) The musik in the battlepart..well it dosn't fit their...at least not for me...and you should keep the entire movie with one soundstile...its mostly better I think...except you have a good reason like a big plotchange. That would be something like seeing the ships in space with the orchastral sound and then you jump into a bar abord the ship where they have casino musik, but if you stay in space use orchastral music for all space scenes.
Thats just an idea....
4) The fighterformation look a little static, let them swing a little to the left and right. I know that this would be unrealistic, cause if you fly straigth in space you wont swing around, but thats just as we are used to see it...mostly from TV ^_^
5)Transitions....a hard cut is good for actionscenes, but with these orchastral music and slow moving ships some "slow" transitions (max 10 frams) it would look quite different and "bigger", cause transitions give you the feeling that things belong to each other while hard cuts normaly gives you the impression of change..well at least in theorie ^_^
6) Some lasers are moving in strange ways...like sliding ^_^
7) You have nice cameramovements but sometimes the camera just break its movement. If you could do it that the camera cames slowly to a stop it would be better. For example at 2:50 - 2:52 the camera follows a fighter, but then it just stops.
Ok that are the parts that I think could be done differently if you like....it might seam quite much and as if I am just critisising your work, but I only do that, because it looks quite good and when you sort out these last few thing it would be even better IMO.