I thought it was worth watching, don't know how many times I would want to watch it again. Maybe if I was in it or had a good friend in it I would watch it more then once.
I think you nailed it, unedited wheeling videos can be like watching paint dry! Some good editing will make up for that, ever watch the King of the Hammers videos.
I made this one from back in the early 1993, I am in it and I have good friends in it, but I can't just watch it anymore, just way too dull, slow editing, and made the mistake that I had to use almost all of the video that was shot:
http://www.youtube.com/watch?v=0ZeetpkyTMc
Ten years later in 2003, I put this one together, it was nice till YouTube pulled the sound track off (
Primus - Jerry Was a Race Car Driver):
http://www.youtube.com/watch?v=1CRHQk7W8vk
Still need to make one in 2013 . . .
What I think works for wheeling videos is faster editing, keep each shot to 3 seconds. It is good to keep the sound from the video so you can hear what is going on with the seen, and edited to music. Speeding up the frame rate just makes it look like you are trying to hard to make it look intresting.
This came from over two hours of video, edited down to under five minutes:
http://www.youtube.com/watch?v=mMWaIv0DNNA
But sometimes the fast editing is just too fast, you can count 3 seconds for each shot, some should have been longer:
http://www.youtube.com/watch?v=UQfAPttb25Q