Well that was a bit of a different ending...
I actually think you ended this section at just the right spot with one exception. In Part 2 Martha indicated that Lana had died and it seems odd to have ended Clark's side of the story without wrapping that part of the story up that is unless it was somehow tied to Clark's apparent injury in the last of the flashbacks (although it seemed to me that the head of Lex's axe came off during a swing and hit Clark). Now why Clark seems to be bleeding unless they stumbled upon Kryptonite at precisely the moment Lex's axe came apart...
The Lois/Clark part of the story broke at a pretty good part with no Spandex and Hair Gel to hide behind this time
. This revelation will take quite some explaining due to Lois having no background information like in the series where she had already known many of the particulars about Superman and just (just???) had to reconcile Clark being him. This time she will have to reconcile her partner being VERY different and then learn how he is different in a very short period of time which can make for some interesting emotional flow. Of course Lois is very good at putting that stuff aside and focusing on the story so Clark may have a bit of a respite but the reckoning will come.
Wow a double cliffhanger!!!
Mike