I'm a big fan of turning out all the lights and just using 1 or 2... so personally I like it a lot. I like all the reversed clips too. The only thing I though was kind of weird was when you faded/panned to black and then cut back in. I think some of the transitions would flow better with short fades.
I think some of the shots could benefit from some sort of steady cam device. It also didn't look too much like DVX footage but that could be the compression.