I commend you for removing the annoying Evey reincarnation and Rick Medjai subplots and other such annoyances. However, I don't feel that your version managed to make "The Mummy Returns" into a better movie. There are too many annoyances to remove, and despite removing many flaws, your edit felt like it somehow made the remaining ones seem even worse. Also, there were too many noticeable cuts, which caused the editing to feel sloppy at many points.
While I like what you tried to do with this edit and feel that some of your changes were improvements, I feel that overall, it didn't work well. I, like you, consider "The Mummy" (1999) the best archeology-themed adventure movie since the original Indiana Jones trilogy, and its sequel far inferior to it. However, while you did remove some of the flaws of "The Mummy Returns", I am sad to say that I enjoyed your edit even less than the original movie.