This is my first time cutting down a video, Went from 15 min worth the footage to about 4 mins, I think I should have gone shorter though.
If you have time to kill take a look and give me tips on improvements.

For the first time you did a great job! I'm not an expert and I know how hard is to cut down a video without losing any good footage!

Did you fly it with the latest firmware?  If so, did you have any problem with battery etc?

Hey Ronnie,  Good stuff!   

Yeah, probably should have been closer to 90 seconds.    Basically the rule of thumb is "only the most awesome stuff gets in."    That makes it easy.    If you play a clip and there is a bump in the footage, start the clip after the bump and get the most intriguing part.

I noticed that in your opening shots.   It stayed on the same image for quite a long time, then had a bump, then stayed some more, then you cut to almost the same shot but with the camera rising.   Instead of 30 seconds of  slightly-awkward you could have 12 seconds of awesome!     

I rarely make a video longer than 100 seconds and that's using the most interesting and well crafted clips I have.  

Great effort, especially for your first edit!

Yes, I agree with Jim - avoid jump cuts. I reckon you could cut out the first ten seconds and go straight to the sign and upwards. One way of judging the length of a shot is to say to yourself 'I think this shot has gone on long enough' fairly slowly, sounds silly but it gives a correct length before it becomes boring. Unless there is something going on within the shot that you need to show.

But, there are no rules!!