It was rough, but I liked it. Great for a first attempt. I've only made one AMV, haven't released it so it will also be my first and it's a newer anime, so you can take this with a grain of salt because I'm no veteran. Okay, first for the bad.
It should have ended at the four minute mark, there might have been much you wanted to add but it lost my attention after that. The music after the four minute mark was simply filler and chorus for a song that is nice, and fits, but is already kind of slow. You also repeated footage after the four minute mark, which is good sometimes, but in this case it didn't work. Work with the first four minutes of the song, in my opinion, and you'll have a much better AMV here. Some of the footage and transitions were grainy, since Hakashu is an older anime this can be a problem, but you should be able to get DVD footage for this one. I'm not sure if you have to deal with interlacing with DVD of an old anime, and I'm not sure where you got your footage, or if the editing process didn't just give you trouble. There was one section where a fade effect in a fight scene was rather terrible. The quality of the cuts and fading was inconsistent. Some of the lip sync-hing could have been better. ( I hated trying to do this, though sometimes it admittedly just seems to happen, otherwise you have to move footage and watch again and again.)
Now for the good. This was a heartfelt effort and you really did a good job at conveying the relationship between the characters using the cuts and the music. For the most part, the music and the scene were timed together well. I could feel your passion for the series in watching it. You have a decent sense of timing that can improve. You also have a good sense of theme, and how to convey that theme. This would be a hard song for me to make an AMV with and you did well.
Just please cut it down to the first four minutes of the song, you'll really do the AMV a favor if you do.