Let's see..
I think the intro needs an ambient pad, or maybe strings in the background, have it crescendo into the part at 0:47?
1:07 I'd add some drums into it. something to give it structure, as is, it just seems kinda random.
Well it kinda trails on like that, but I do like the cello/bass thing you added. at 2:28, although it still feels like the song needs structure. There's no real buildup or loss of energy.
However I could see this as being really good background music for a flash vid, like Sald Fingers lol.
would you mind checking out my song? "Eat Fish v2" on my audio page. Thanks :D