I really enjoyed this edit. The editing together of under the hood and the extended cut did indeed feel more like the graphic novel, and i appreciated the changes in music, although only the opening credits felt weaker to me. I really liked Bob Dylan there, but maybe I'm alone in this. Regardless, great choice using Phillip Glass and his haunting music.
The film felt better fleshed out, and I didn't find the headings/cuts to under the hood too distracting. The intermission felt unnecessary though. I just fast forwarded it, as others may do as well. We're used to long dvd's (aka lord of the rings) and I also found it odd that the under the hood segments abruptly ended. Did you try spreading them across the whole film? Perhaps that was distracting in the climax of the film. Removing the super human feats was also appreciated, and thank you very much for getting rid of the Halleluia sex scene! Talk about unintentional laughs.
One more thing, I would have removed the line after Rorschach says "gotta use the men's room", and silk spectre replies "aww you gotta be kidding me". Bad joke, poor delivery. But that's all. Very enjoyable edit, improved the original. Great work and congrats on Edit of the Month!