http://www.writewords.org.uk/archive/13592.asp
link above because I couldnt find it in the fiction section - but then im new here and there seem to be several fiction sections.
It isnt a genre that I read so Im not competent to comment. (but thats never stopped me)
I would say that I have read published work which is not as good.
How targeted were your applications ? Which agents/publishers ? I would be inclined to keep trying - You have some positive feedback after all and you've done the writing - It doesnt take lots of effort to keep putting it forward, even if you only get more feedback that you can put towards your next work.
M