Sorry for the slow response!
I like the tranquil pads and groovy percussion. The 3/4 time signature is a great touch - without a strong off-beat, the meter feels...well, wave-like.
The atmosphere is great, but sometimes some of the melodic elements are a bit understated. The synth that comes in at :55 is WAY in the back of the mix, and it feels like it should've been a bit more prominent, especially at around 1:09. In general, the mix feels a tad bottled-up, with pretty narrow ranges for the pitches. Maybe you overused the equalizers a bit? Or otherwise it needs some more mixing effects on the back-end: reverb and filter automation on the synths, with a bit more compression to add some punch.
One thing I really like about this piece compared to some of your other recent work is how smooth-flowing it is. You didn't try to do too much to increase the pace or anything, and when instruments are added/subtracted, it's usually subtle. The transition to the bass-y groove at 1:50 is a good example of this, and the percussion roll before the new melody comes in at 2:05 is also really smoothly done.
Overall, I really like this piece. A bit more compression on the lead and a fuller mix in places would help take it to the next level, but the composition is strong throughout. ^_^