I have watched the first part, but not yet the second.
The first part left me with a few questions... ways in which the story they were unfolding really wasn't consistent with the Peter Pan in the standard story. And I'm not talking about individual plot points, but in overall theme.
Well, in one plot point, at least. Barrie's original work was published in 1902, set in that era. But the Miniseries' Peter first gets to Neverland in 1906. By the 1900s, Pan is already supposed to be a boy who has refused to grow up for a considerable time.
More importantly, though, Pan is not supposed to be mature in outlook. By the end of the first half of the show, though, Peter has seen so much betrayal and death that I don't know if they'll be able to believably keep him from "growing up". Maybe it can be done, but I'm skeptical.