This is pretty damn cool. I can't help thinking that it would have a bit more depth if it were done with real instruments (some things sound better as MIDI, but I don't think this is one of those things), but still, very cool. And definitely a very cool idea, always good to see people experimenting with stuff like this.
LoL, what the hell does the production value have to do with the quality of the music? It ain't what you got but what you do with it. John Frusciante recorded some of his best stuff on a cassette player in his living room. We Trust in the Seas sounds more awesome than anyhing you could do if you were working in Abbey Road with Rick Rubin, to be honest fella.