Smart of you. Part of the trouble....is not recognizing from the beginning that the tree is hollow or otherwise compromised inside. As bad as the OP's tree was, you would have discovered that when making your face cut.I fully agree. Those hollow trees scare me. I'm a weekend lumber jack, so I know I lack the experience and skill to handle it like the professionals. We have a few trees that will wait till my more experienced tree cutting friends can come take them down or the weather does it for us.
But many trees are only partially rotten inside (not completely hollow as in this case) and can start falling (or come apart) unexpectedly. Especially if you have a 'leaner'. Where I live we have several tree types that are notorious for being hollow or partially rotten inside.
Water Oaks and Hackberry trees to name a couple. If I have any suspicion about them at all....I will make a single plunge cut with the bar to see what is what.
Bottom line: If the tree makes you feel spooky, follow your gut feeling and leave it alone.