Done!
Alright, finished up my shmup. My attempts at making music for it failed miserably, so I’ve left it music-less… but the gameplay seems to work well enough, and while still shots look sorta iffy, it looks nice enough in motion.
http://www.ludumdare.com/compo/ludum-dare-18/?action=preview&uid=1503
Turns out that using full 3d physics and graphics engines for a game with entirely 2d gameplay isn’t worth the added effort… ah well lesson learned.

Good luck to everyone still scrambling for the deadline!