Yer It was a tad long but I like to use slow motion a fair bit as well as show some personality from the rider, I didn't want it to look like another plan BMX video because I find that most of them a basically the same as the one before hand, where there is some douche bag flying around on a skate board making the camera shake horribly and everything that gets thrown down is so quick, you have to rewind it and see what the hell the rider did.
as for CS5 vs CS4 Premier Pro and After effects, there isn't too much difference between the two. CS5 they have cleaned up the interface a bit and i think the 3D is better then CS4. There is a few new bits here and there but overall there isn't much you can do with CS5 that you can't do with CS4. As for Photoshop there is a fair bit of new stuff that is pretty awesome, but if your strict on just making film, CS4 does just fine, your not missing out.
I am still fairly new to the Adobe Programs because before i was using Pinnacle studio plus and that was just extremely shit, but I have been touching on CS4 at Tafe and school for the past 2 years or something like that.