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I'm finding the lighting effect kind of ugly. Have you played around with a smoother gradient? Other than that everything is looking very nice. I don't believe that you haven't played TAG though 
Are you still using GameMaker? Out of curiosity are you drawing a transparent sprite for the light or using fancy DirectX blending stuff?
e: Screenshot of Treasure Adventure Game for comparison.
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I do have the ability to make the lighting effect smoother, however I'm going for a more retro look with the lighting, more similar to Legend of Zelda: A Link to the Past. It works using surfaces and blend modes, first drawing a black surface over the screen with a set alpha value, then subtracting sequential circles from this of a given radius and a given number of circles, the number is currently five, I'd just need to raise this number to fit.
And I'll really have to look into that sometime, I can understand where the similarities lie.