Yeah, I don't remember where I got the title. Must be some OST video or something. At least I did not make the title up.
My mixer's equalizer is always in the V shape to lift low and high tones. It depends a bit on what speakers or headphones you play the music. Back then I did not own studio speakers but some cheap logitech speakers and headphones with a lack of low.
It might sound different now, but this track is in the past now. Better leave it like that 
Yes, I think you're right on Xak II there
Thanks for the pointer, def. not a bad track, I've been spoiled w/ many FM treats in the meantime though 
Regarding Illusion City, you may be spoiled with many good FM tracks, but that doesn't take away the special status of the track. It was a milestone on the MSX and in my opinion it still holds it's ground as an excellent combination of FM+PSG.
Mind, not just FM, but the combination with PSG done in a very good way. Many people just use the standard FM sounds and try to get away with it, that's why a lot of MSX FM tunes sounded the same, standard drumsounds etc. Tadahiro and others hated that. They use the PSG noise and FM bassdrum (pitched at higher level) to give that excellent tight snare sound for example. I think that is what Microcabin made the top bunch, the seemless combination of PSG and tweaked FM to create sounds that wend above and beyond.
