Ok, so it's a game that I used to really love playing like 10 years ago or something, but I think that it's older than that. It's probably 15 years old by now.

From what I can remember, it was a Breakout clone sort of thing, it was pretty futuristic, there were lots of items (like a magnet item that attracted things to you), and there was a menu full of the items for a reason I can't remember ):

Oh yeah, it was also pretty grey colored and had rad music XP

I've been looking for it ever since my old PC broke down, I haven't really memorized the names of the games I used to play (except Bubble Bobble Hero 2 I guess), but this one stood out in my memory, but I can't remember its name!

All help is appreciated (:

What is the game's graphics like ?

Hmm, I guess it's a 2D game, but the stuff looks early 3D-ish.

Are there any negative power-ups as well ? 

Sigh, I can't recall :/

This is Ricochet XTreme

Ring any bells?

No :(

The controlling ship arrow thing whatever was small.

Is the game of a brick buster genre ?

Magic Ball

Any of these?

nope ):

First one is too 3D, second one is too 2D.