Bit of an update on this one. Finally got around to making the youtube video of it, synced up with the intro. I changed some volumes/waveforms/instruments and I think it sounds a bit more grindy now. Even more so than before. I needed to increase the contrast between the two leads and that seemed to do the trick.
I also added the "slowdown" effect present in the original tune with very strategic use of the 09xx command in Deflemask... NO idea why they did this in the original tune. I'm not sure if it was intentional or slight slowdown from the Genesis CPU... but either way, this cover's timing now matches note-for-note with the original (and also, the intro scene in the youtube video).
Enjoy!
P.S., and there's definitely more "chug-chug" in one of the leads, thanks to some funky arpeggio tinkering. Messing around with the PSG drums really helped me get more of a feel for how the arp feature works.