The price we adventurist sometimes pay for our education. As this was your first bacon and you most likely will be making it and other products for years to come, let's start out by taking smaller steps.
First and most important, learn how to keep good note's of the entire process. Start by noting the product preparation prior to smoke/cooking. Then record the type, species and amount of wood. You also want to record type of smoke generator used, internal, external, etc. Record the color, density and length of time that smoke is applied along with the finished results such as color and taste. You may then learn to smoke to a desired color rather than time.
You will find that smoking times will vary depending on the color and density of your smoke. Your mailbox setup looks great for producing cold smoke. Now all you have to do is to learn how to use the smoke that it produces and in time you will learn how to even adjust that. The advantage of using the mailbox type generator is that it produces what I refer to as a much cleaner or smoother smoke by removing much of the smoke residue prior to entering the smoke chamber containing the product.
I personally cold smoke my bacon in the neighborhood of 72 continuous hours to get my desired results, but this is using a very, very pale blue smoke at ambient temperature. Looking at your smoke output, I would start smoking no more than one hour and make adjustments from there in your next smoke.
Personally I disregard any mention as to how long to smoke a product if it doesn't include the type of wood, color and density of the smoke. Over the years, I now basically use four different smoke generators each having its own purpose. Smoke may be applied to liquids for as little as a few seconds to days for some meat products and everything in between. Now is the time to be patient and learn. Increase your smoking options as you go.
You may find the following helpful, glean from it what you want. Understanding Smoke Management - updated 12/08/14
Hope this helps,