I liked the shots with the Viper in it. The motorcycle shots were good.
If he's a good friend just trying to have some fun I'd say its a great video.
I'd probably compress it a little more for the web, but there is so much motion and changes in colors, I'm not sure wmv would be able to compress it much without losing considerable clarity.
If he's going to be showing it at the Austin Film festival, I'd of course be a little more critical.