Silpheed is the name of the ship you fly in this 1988 game released on MS-DOS, it was originally developed on the PC8801 & FM-7 computer systems and later ported to MS-DOS, Apple II and the Tandy Coco (!!!). I originally encountered this game first on the SegaCD/MegaCD but that was a remake of the original shown here.
A great sequel called Silpheed: The Lost Planet came out for the PlayStation 2 and I just happen to own that game as well so another video with that will probably pop-up eventually.
There's also a Silpheed game on the xbox 360 which is called ' Project Sylpheed' .
After a few distractions (including a bout of flu), I managed to get back to seeing to what extent I can transform this minimal hardware into a real PC...