OOoooooohhhh.... That's dope man.
I gotta agree with everyone else and say that it would benefit from some sound and some more interesting textures, but I gotta say that I've never seen anything like this before. Kickass!
I love it - I've only seen two of these on dA so far, and would like to see more, they're fascinating.
There could be a more interesting flight path, maybe going through those hoops. Also, a slightly more reflective material, while increasing the render time (like hell!) will have incredible effects. Hmm... reflections