I prototyped this and started building it in C2, but ended up switching to Corona for the final game (which is why I put this post in open topic). I just couldn't get the framerate that I needed with C2. Still using C2 for other projects though, can't beat it for time-to-market.
I've also just finished a launch video today, please take a look here:
<img src="http://www.danger-moose.com/images/youtube_grab.jpg" border="0">