Interesting that this update came tonight. Ever since last year, I've been watching Star Trek on Netflix. While I've watched a few TOS, some TAS, and TMP, I've been focusing mostly on the 24th century, watching through the first five seasons of TNG and then mixing TNG season 6 and DS9 season 1 in rough chronological order. Once I got through that, I started on TNG season 7 / DS9 season 2. Tonight, after doing a bit of reading on Memory Alpha, I watched "The Pegasus" and "There Are the Voyages...", switching back and forth between them in rough chronological order (I was mostly successful). I just finished it. I don't remember how you edited this together at the moment, but here's how I see it:
TNG: teaser - Act 1
ENT: teaser - Act 1
TNG: Act 2 (Picard/Pressman scene)
ENT: Act 2 - Act 3 (until right before the D enters the asteroid field)
TNG: rest of Act 2 - Act 3 (Picard/Riker scene)
ENT: rest of Act 3 - Act 4
TNG rest of Act 3 (starting with Picard/Blackwell scene) - Act 5
I recommend adding replacing most of the CGI D shots early in the ENT footage with TNG footage of the D in the asteroid field, since they entered it fairly early in "The Pegasus" but after Riker was placed under orders, yet the ENT footage doesn't have the asteroid field at those moments.