Re-Edits of the official films are fun and a good exercise for the burgeoning editor.
I don't appreciate re-editing of fan films as those are the unique vision of the creators, good or bad, and deserve to stand as they are - with the exception of Directors cuts, which I've done of my early episodes. The difference here is that in one case, I tightened up an edit and in another, edited it to my original vision of the piece in question.
I did this as an example of how far you could take a re-edit about, oh, 12 years ago? Been editing my own stuff ever since. But this was a fantastic way of learning how it all worked.