Hey Lord_Elrond, I think its nice work, as its something new and interesting that I have not seen before. I always say at the end of the day this is your edit, and you should make the edit you want, which satisfies You first and foremost. Make something that makes You happy, its pointless making something that is "commercially" pleasing to the public but artistically dissatisfying to you (studios today do that already). There were hobbit edits before yours (including your own) and there will be more smaug edits after yours, guaranteed.
Feedback is useful, but you shouldn't let yourself feel pressured or uncomfortable with your own work.
It's a hobby man, you're not getting a paycheck. Just be yourself. If its accepted or appreciated, good. If not, fuck it, at least you didn't compromise. Keep an open mind and stay happy ;-)
For my own edits, some of the folk giving you feedback here like Aztek, hasmak, kellenpure, Moe_Syzlak and ssj were a huge part of why I really enjoyed the end product of my own edits, because the changes they suggested worked in line with what I wanted Smaug to be-- which is different from what you want it to be. They made my edits what they are. So certainly Listen to and be receptive to all the feedback, but ultimately, You're the one making decisions to make changes you feel will benefit Your vision. Cheers