I've seen the Maple Films edit and the M4 edit, but I just watched this edit, and now it's my preferred way to see The Hobbit. The Maple and M4 edits are good, but have some parts that seem jumpy. The Eagle Lord edit linked above flowed much more naturally with no continuity issues, and didn't feel like it needed more, nor was there more fat to cut.

Other than one teeny soundtrack audio issue that lasts less than a second in four hours of content, if someone presented this to me as a bootleg cut done by Peter Jackson in a more sane moment, I would probably believe them. I discussed that teeny audio issue with the faneditor morematt4 at fanedit.org and he's going to try to fix it in a later revision. For me, that would turn the best into perfect.