I have to admit at first I though; "Ugh, another Pod Race edit." However, the new music really made it stronger for me. Gave it some much needed emotion.
However, there are some criticisms, one is subjective, but the other is technical.
PLEASE remove all sand people and Jawas from the race. I HATE that Lucas felt that every creature that was featured on tattooine in ANH had to have cute little comedic cameos in this movies. It's lame, and it lessens in the impact when you eventually get to them in Ep. 4.
My other criticism is something I feel is beyond subjective and needs to be fixed. You need to work on audio levels. KEEP THE MUSIC PLEASE... But the levels on both sides were back and forth. Sometimes I though TPM's levels were to loud, and then sometimes I couldn't hear dialogue because of the new music. Just food for thought.
All that aside, I really like it, and I think it can work very well! You did an amazing job of timing the music cues to the action.