Pretty nice!
Pfff, where to begin? Not talking about the sound here as it's WIP. It's a bit hard to pick out the actual lead since it's drowns in the mix. I also find that the guitars are a bit too sharp in general. Maybe you should think of soften them a little? I don't know, that's what just comes to my mind. The build up is pretty good. First the rhythm guitar, first lead + bass, drums and after that the "real" lead guitar. Nothing to bug about there.
Though, you where a little bit off somtimes but I assume that was all because of the WIPness. ;)
As SBB already mentioned the distorted lead just doesn't feel right. At least in the way it's played. The distortion is horrible to be honest. Sounds like something from a 15 W amp. Not very well fitting with the rest. My idea for that section is: Smooth out the lead, find a better, not as sharp guitar tone and add a layer where you play some harmonics with the strong lead. I guess that it will have a nice effect on the track.
Drums sound pretty good in the way they are. I hope you will make them a little more diverse. Other than that, like em.
The Bass is fine with me...a bit more treble maybe? Just a suggestion.
Anyways, pretty cool so far. 4/5! :)
I spare the 5 for the real thing! ;)