Well, I'm a bit sleep deprived, and at work, but I'd like to at least work on the core subject of your post.
There is indeed a lot of work that has to go into this script. At some point, I realized that if I didn't push through it, it would never get finished. There are indeed transition scenes I would like to see, I was just worried that if I stopped to work those out, I would never get moving again.
In regards to the naming of characters, I personally find that very awkward. People rarely use each other's names in normal conversation, which does help us in the attempt to conceal young Estel's identity. In order to do that, we must also conceal Arathorn's, at least from the casual viewer. (Anyone with a computer and an internet connection would be able to discover the truth, but that doesn't mean we can't be coy about it. Game of Thrones does this all the time.)
I also don't think we need to explain the change to Rivendell either. We see Gilraen and her child clearly leaving her home behind, then we will see her in Rivendell with a child somewhat older, I do believe audiences to be clever enough to work that out. Also, we don't need to answer every question in the first episode. Many series' thrive on giving their viewers limited information at first, then granting more as time goes on. (X-Files springs to mind here, as does the aforementioned GoT).
We certainly don't need to name Arathorn. We are either only going to see him in one other episode or not at all. He is clearly the husband of Gilraen, (who I think should be named in the starting sequence, thanks) and ostensibly yhe father of her child, who we will name in the next scene.
I do not have any voiceover in the opening sequence because it would likely reveal too much. We don't get the dialogue that Gilraen is not privy to because we are seeing these events from her point of view.
Using my lord and my lady, even in private, is a fairly well-established trope in heroic literature, and it has the added effect of keeping Arathorn's identity secret.
Finally (for now), the intention is to reveal Aragorn's true identity in the final episode, once again holding back information from the audience for the sake of dramatic emphasis.
I would certainly recommend listening to the rest of the podcasts as the opportunity arises, as Prof. Olsen does a fantastic job of explaining his position. Also, there are all the videos we made when hashing out the outlines. (This episode is a bad example as the 4-hour discussion and not on YouTube.)