I was fortunate to work with a friend who has some Final Cut Pro chops. For my part, I just made sure to film EVERY take of every track. I'd make some suggestions on what I wanted on the screen at specific times, but they handled the video editing. I started doing some videos for Keyboard Magazine and stuck to basic stuff, mainly using Adobe Premiere Elements, but I'm starting to dig into Final Cut Pro X more.
Glad you like the video/arrangement! I always loved that song.

I will have to check out the open mic!
Thanks!