Ok, I have only seen this film once, and that was a long time back... so I never really thought about the ending. Till I read your post, that is.
What you say makes sense. I liked the original ending a lot, maybe because I was too engrossed in everything and was badly rooting for James to get his happy ending. Which is why this ending works nicely.
If we end it at your suggestion, then we do get a seemingly-unresolved ending... but one that makes just as much, if not more, thematic sense.
As someone suggested below, how about if we end it with James punching Frigo, Joel laughing hysterically and then he & James walking away, with Joel asking James what he was going to do next... James saying that maybe he'll go to NYC. And some more babble after that as the camera pans out, focuses on the park as the screen turns to black and credits roll. Well, what do you think?
If more of us valued food and cheer and song above hoarded gold, it would be a merrier world
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