The "Sandsored Edit" didn't really work as a movie, but it was interesting to see why.
Mainly, without the Sandman (or some other) subplot in the film, there is nothing to cut away to for transitional periods while you're reflecting on the Peter/Harry/MJ story. In this cut, it's just one scene of this story to the next. Also we realized, as lame as the subplot was, the Sandman story is where most of the action came from, so it helped break up the pacing and provided contrast to the love story/relationship thread. In this cut, going from one "relationship arc" scene to the next ended up feeling slow and boring.
Ultimately, even though this cut is only 95 minutes long, it STILL felt like a slow, long movie.
I saw a few scenes that I could move around and re-order to help with the pacing, but without another story and/or action to stir things up, I'm not sure this concept works.
So, even though I still feel these are the best scenes in the film, it is an excellent example of how you need more than just a bunch of good scenes to make a good movie.
It will be interesting to see what extra scenes are on the DVD, as S3 is still going to make for excellent fan edit fodder. I know a lot of people are looking forward to more Sandman scenes to give dimension to his story, but I feel strongly that just ADDING more to this film is not the answer.