I have a few technical nitpicks. First, the percussion macros redefine a lot of redundant y and v commands. Second, it's best to use $EF's first parameter to choose echo channels directly instead of doing $FF with $F4 $03. Finally, the song very slightly lags when the timer drops below 100, although it's not really noticeable unless you spam your item reserve and continually change powerups.
That aside, I think this is my absolute favourite song from Hisoutensoku and I'm so glad to see it in SMW. You really did it justice.