This a good arrangement! It's a hard song to get right, and you got a LOT of mileage out the DirectWave and default instruments. It's not about what you have, it's how you use it, and you used it superbly well.
After listening to it again, while I still think your last improv was more impressive, this one sounds so much more melodious and personal, it sounds sweet. There is something very awesome about listening to your evolution, and how you're already playing chords. It's really great, good job!
The improv felt like a cohessive song for a long time, maybe the longest so far. It usually feels like a string of ideas / sections, some great, some not so much. But this one felt like a little suite, that sadly kinda got lost around the 7 minute mark, but up until that point, it was pretty good. Unpolished, obviosuly, but you were pulling off some pretty neat sounds. Very nice job