I read the original Unseelie Fey. I read the Dragon Compendium one. They're almost the exact same, except they made the DR more powerful when trying to update it.
For those of you who want Unseelie Fey, here' my 3.5 update/compromise
Starting Level Adjustment = +2
If you roll low and don't have usable wings, lower Level Adjustment by +1.
Damage Reduction is stagnant at 5/Cold Iron, like the Half-Fey Template.
Keep the Season's Power and Iron Vulnerability.
If you roll high and have Tremorsense or Blindsight, increase Level Adjustment by +1.
So the Unseelie Fey LA varies from +1->+3. It's the most balanced way I see it. If you both still want to use it, feel free to submit a savage progression and I'll take a look at it.