There was Live Watch last night of the first four parts on Twitch, but due to previous commitments, I was only able to watch the first 80 minutes...
But what I saw definitely intrigued me.
The opening credits as mentioned by @"Zarius" was a clever solution, and while it is not a song I would have used, it felt appropriately Snyder-ish.
There is extensive audio replacement in this edit, mostly to include Hans Zimmer's Man of Steel score, but other music inclusions too. And while I do not know what audio removal software he used, it is pretty impressive so far. I mean, you can still tell it is audio replacement, but at least all the voice pitches all sound normal and the usual background warble you get does not seem readily apparent. So while far from perfect, it is not distracting.
There is some excellent blending of mixed footage from various sources and some nice subtle FX work.
As I said, I only watched the first 80ish minutes, and the story was only starting to unfold (I am surprised at how much of pilot episode he used) but from what I can tell, it seems he will be using the Veritas storyline heavily to tie it all together (a great and surprising use of a key scene from Amazing Spider-Man!). ...oh, and the introduction of Lois Lane! Very clever!
I can not comment fully on video quality, since I was watching it on a live stream, but it seems to be a mix of SD and HD... I do not know if he attempted to upscale the Smallville footage but even in live stream, the pilot footage looked significantly lower that the rest of the material. But if I remember correctly, I think the pilot is encoded different on the disk than the regular series...?
It is a bit disappointing to hear from Zarius that the editor is already acknowledging editing mistakes. Also found it odd that he was only uploading the fan edit on the day of release. One can not help but wonder perhaps he could have spent less time on his 15 commercials promotion campaign, and more on fine tuning and preparing his release platform. Also, yes, the file sizes are insanely large... part one alone is 8G!!!
But I gotta admit, I liked what I watched so far and will absolutely endeavor to download and watch the whole super epic affair.