I recently started making a game in windows phone XNA, I have a rocket in the middle that I can rotate and has a thrust to speed up in the direction it is facing and meteors coming out. The point is to survive as long as you can and avoid collision with the meteors. I can't manage to implement the collision between two moving and rotating sprites which are the rocket and a random meteor. I've seen rectangular collision which to me appears bad but maybe I am coding it a bit wrong and the pixel collision is way complicated :/ any help would be appreciated, thanks in advance :)
You're right on that main point: pixel collision is way complicated. Often times, it's going to be far, far more effort than it's worth. You'll likely have to program a form of collision that's not 100% the same as the visuals you draw. A rocket sounds like something that could very easily use rectangle collision detection. However, a random guess suggests the meteors are more circular. Actually, circle collision detection is also pretty basic; for instance, circle-to-circle collision just involves calculating the distance between two objects, and comparing their radii (plural of radius)
This involves a bit of math; I think for the progress of your game development skills, it would be good to try to understand what's happening here, or even look up some textbooks on the subject; but if you get a basic grasp of what goes in and what comes out, you may just be able to drop it into your code...
(Oriented means having some form of rotation. Bounding box is a fancy name for a rectangle.)