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Please check out the following sentences. Which is acceptable?

(1) At the wedding banquet, Peter was so excited because he saw many old friends who have not seen for a long time.

(2) At the wedding banquet, Peter was very excited because he met many old frinds who had not seen for a long time.

In #1, is the adverb "so" acceptable? If it is replaced by "very", will it be better?

In #1, is the verb "saw" natural? If it is replaced by "met", will it be better?

In the adjective clause "...who have not seen for a long time", shoud the auxiliary verb "have" be replaaced by "had"?
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(1) At the wedding banquet, Peter was (very) excited because he saw many old friends who(m) he had not seen for a long time.
(2) At the wedding banquet, Peter was very excited because he met many old friends who(m) he had not seen for a long time.

Both OK now.
Comments  
I have underlined the problems:

(1) At the wedding banquet, Peter was so excited because he saw many old friends who have not seen for a long time.
(2) At the wedding banquet, Peter was very excited because he met many old friends who had not seen for a long time.
Students: Are you brave enough to let our tutors analyse your pronunciation?
(1) At the wedding banquet, Peter was excited because he saw many old friends who he had not seen for a long time.

(2) At the wedding banquet, Peter was very excited because he met many old friends who he had not seen for a long time.
 Mister Micawber's reply was promoted to an answer.