Part 1
I just finished reading Part 1 of this wonderful gift.
The art -- of Wagtail, Halcyon, and Draco - is simply gorgeous. The colours bring them all to life. And I just want to mention Halcyon, because I've never seen a portrait of an Abraxan and he just is exactly how I've always imagined the winged horses.
The story... I'm kind of speechless right now. I don't want to give away spoilers of the plot, but you've brought these characters to life. Even Lucius, who barely appears on screen in part 1, is so believable as an extension of what we see in the books. And Abraxas is fantastic. With hints of Lucius at the beginning of the books, and yet his own self as well.
As for the plot, I'm really looking forward to seeing where you go with this next.
This story is exactly what I was hoping to get. More comments after I've read Part 2.