Check the PocketGamer news about Space Tripper. It'll be released in 2009. There's an in-game video and it looks really cool!!
I think it looks great. From the video it has some clean 3D graphics and effects, large enemies, variety of level designs, unique twist for a scrolling shooter on reversing the ship with some large open areas requiring you to do so. $5 is a good target, but seems like it could got for $8-$10 if it has a long campaign.