Fantastic Game. Great Music, Art, Gameplay, Medals, Storyline, this game has it all. Very well put together, and there are so many elements to the game, it's not as simple as some might first think.
Only complaint was that I didn't understand the marketplace at first, as in, the prices on certain items change each day. That wasn't obvious at the start of the game.
In terms of replay value, I probably won't play it again with the other ships, just because the game took so long to beat. Maybe if you are stuck on including these other ships, they can be ships that are available within the first game? Just a suggestion.
::Spoiler Alert Below::
How to beat the Kraken. Some people were wondering this. It's simple, circle around the map, avoiding the borders, which do damage, and use the fireballs to take out the smaller Krakens. This will break the shield. Then you can circle the main Kraken, and take him out with your main cannons. You will need to Tortoise Shell for this, because you need to be able to take a lot of damage, there is no way to maneuver around the bullets, this isn't a bullet hell game. Once I had the full shell, I beat the Kraken in one try.