Very good
For a first flash game, you've got loads of talent. Obviously it is very basic, but you can certainly add more to it. Make things like levels, different enemies, and health (instead of just a one-hit kill).
Also, a replay button is simple and believe me, it really works for people playing your game. A lot of people prefer pressing a nice, clean button instead of right-clicking and pressing play.
Also, instead of just basic rockets and ships you could add a different theme. Or make a background. These are all ideas that I think could really bring up the score of this flash, because 1.75 doesn't describe how well you did on this at all.
Anyway, I know if you put a lot of time into a well-thought out and fun game like this, I have faith that you can really pull off something great. Keep it up, you can only get better man.