I liked this, but what it lacked was strong percussion. I only felt the drums in the upper-mid range. There was a lack of punch... so to speak. Imagine this playing in a club, would anybody be feeling a powerful kickdrum? Nope. How about a thick snare? Nope. Both of those components are extremely important to drum 'n bass, without them, it's basically just "bass".
Now, onto the synths. These were a bunch better. I really liked the detuned synth, and how it skipped along the snares on those third notes. I liked it. You have potential for a killer reece bass. (A reece is 2 sawtooths tuned against each other, then distorted/phasered/vocoded, however you like it). Your bass seemed a tad weak, I think it needed a little bit more rounding and distortion, like low-end, a boost at about 30 - 60. A phaser would have sounded uber neat on here ;-) The acid portion sounded really sexy, I liked how you automated the resonance on it. So as a result, this sounded very Paragon-esque, and also with a sprinkle of ZENON in there ;-).
The FX were nice, they complimented everything properly. The volume fading sounds a tad awkward, I don't think that was necessarily the best time to have used it... but it's impressive nonetheless.
Well, Mr. _IV_, I enjoyed it. You've got some killer ideas that could use a little more elaboration and technical improvement. You're a talent-bomb waiting to explode :)