The theme, for once, is excellent, and the harmonic progression unusual and interesting. I'm not sure if the clarinet gliss. is playable or not, check with someone who knows
also, the clarinet might not sound too good in a real performance with the quick scales up there. The following passages, though, are fantastic: I love the progression leading the soft delicate part, and the following crescendo; reprise of the theme right on spot, and the following bars with the piano arpeggios are delightful. c. 2:25 the sound is somewhat mozartean, though hardly out of place.
Overall, there is a slight lack of form, but I'm not disturbed by it all; every part flows into the next one, and the ad infinitum feel is always there. at c. 4:30 I'm not totally sure if the bassoon will sound as delicate in performance, maybe it'll just take a good player. The scale at around 5:10 didn't sound the most effective to me, and I didn't feel the build up towards the end worked so well, but overall it's definitely a very entertaining and enjoyable piece.