The House That Jack Built - WIP 1 (14/10/12) (READ DESCRIPTION FOR DETAILS)

So while I enjoy making edits and all, I've really wanted to try/give a go in making some original electronic music myself, preferably the type that made me love dance music in the first place, Electro/French House. However, due to my noobish skills and the minimalist version of Ableton I'm using currently (Six effects and eight tracks allowed only in each project, yay. *sarcasm*), my attempt at making this kind of music, while I understand the sound and (slightly) the structure of it, putting it together is proving to be confusing and not quite satisfying for me.

This is where you lot come in! Every so often I will post a WIP of the track I'm working on.
If you have experience with Ableton and/or have musical knowledge of the genre, then I would like you to give me comments, criticism and advice as to what do you think I should do with the track e.g. Do you like it and why? What am I doing wrong? What should I add in? Should I take anything out? Is it too loud? Do I need to edit this bit better? What should I do next with it? ETC.ETC.ETC. Just try not to be too mean with your comments because understand I am still learning and all with this.
Just general comments and opinions on where you think the track should go. Sure it's my choice on what happens with the song, but the thing is I don't know what I'm doing! I just need a bit of guidance and understand with this before I can totally be able to do my own thing and be all mad pro with this.
After I've taken notes from you guys, I'll try and improve it and then upload an updated version to see what you guys think of it. Ideally this process will repeat until you guys and myself are satisfied with it.

So without further ado, here is the what I've got so far with this track, it samples Kool & The Gang's 'Street Kids' with it 2 semitones up from the original key (A) and using 808 drums, aside from a crash cymbal and a snare. Any other questions, please ask in the comments and hopefully this new project should be fairly successful (Fingers crossed people will help out), so thanks guys!