Welcome to Gaia! ::

The sync up is pretty good and most of the action is appropriate.
8.5/10 if I had to rate it.

Yes. Please. D:

Subtitles ruin AMVs.

Overall, I liked it. O: It's really well done. <3 Better than I could do. XD

What program are you editing with?

Well then it's going to be harder to accomplish.

You're going to have to download VirtualDub or VirtualDubMod.

Run either your footage or your finished movie through Vdub(Mod).

Your footage is going to need to be an avi, so if you're exporting from WMM, it'd be File -> Save Movie -> Advanced or more options -> DV AVI
( http://xrl.us/wmm2 "exporting" post for more info)

Open up VDub and go to File -> Open AVI
then
Make sure "Full processing mode" is checked under Video.
then
Video -> Filters -> Add -> Fill.
make sure the color's black, and cover up everything EXCEPT the subtitles using the offset buttons.

OK out of all that, use the second play button to preview your output video. If that's all great and dandy, go to Video -> Compression -> Huffyuv (If you have it). If you don't have Huffyuv(or a lot of HDD space), go to Video -> Direct Stream Copy instead.

Then go to File -> Save as AVI, and it SHOULD work. If it doesn't, I really don't know what to say, because WMM doesn't really have a cropping option. And neither does VDub.

So in effect, doing it this way will just have a black bar on the bottom of your video. But it's better than having subtitles all over it, I think.

Otherwise, you could try using the Subtitle Removal Guide here:
http://animemusicvideos.org/guides/
but it's pretty outdated.