Yes, I very much like the interpretation of the duo as pure heroes. I know that a lot of people (myself included) would have liked to see the Shakespearean tragedy of Darth Vader, but since that was so horribly bungled the next best thing would be to see the two of them before the fall, as brothers-in-arms.
Episode 1 establishes Anakin as a selfless hero, and Episode 2 shows enough of his adolescent drama and growing pains even without him murdering a tribe of Sandpeople. Episode 3 would be Anakin emerging out of this awkward phase as the hero hinted at in Episode 1, who despite his fears and forebodings manages to remain loyal to the Jedi until the end, having a tragic death in the Jedi temple. His true legacy, and the last task of Obi-wan, are Anakin’s children. I could even edit out the birth of Leia, but that might be a revelation worth ruining for its dramatic irony.
I actually think that the edit could work as a 1 hour movie. I can think of one shot that would absolutely need effects work - Anakin leading the Clone troopers into the Jedi temple - but everything else could be solved through omission:
Battle to save the Chancellor
(remove Palpatine’s insinuations - Anakin and Palpatine are acquaintances, nothing more)
Padme’s Pregnancy
Grievous on Utapau
(remove Palpatine’s directive to go to Mustafar, as well as rumblings about a new apprentice)
Anakin’s Dream
(remove Palpatine’s council request scene)
Anakin on the Council
(remove Anakin’s disappointment at not attaining the rank of Master)
(remove scene of council’s plan for Anakin to spy on the Chancellor)
(remove Squid Lake scene. This is the most grievous omission, but it must go.)
Yoda on Kashyyyk
Anakin informs the Jedi of Grievous’s whereabouts
(remove references to Palpatine - Anakin asks to go of his own volition)
Anakin and Obi-wan part ways as friends
Obi-wan confronts Grievous
(remove Grievous sending Separatists to Mustafar - the war ends here)
Anakin informs Palpatine of Grievous
(remove dialogue suggesting Palpatine knows about Anakin’s plight. He lets on just enough for Anakin to suspect that he is a Sith, then confirms it)
Obi-wan defeats Grievous
Anakin informs Mace about Palpatine
Anakin and Padme at sunset - this is the last we see of Anakin in this edit
Mace arrests Palpatine
(remove Anakin’s return to the Chancellor’s office - Mace is destroyed purely by Palpatine’s Force Lightning)
Order 66
(remove/replace shots of Anakin leading the clones into the temple)
(remove Anakin’s return to Padme)
Palpatine forms the Empire
Obi-wan and Yoda return to the Temple
(remove Yoda’s mention of lightsaber wounds, and all dialogue referring to Anakin.)
“If into the security holograms you go, only pain will you find”
“Master Yoda, I must know the truth”
“It can’t be…it can’t be” (remove images of Anakin doing the killing) “I can’t watch any more”
“Destroy the Sith, we must.”
“Send me to kill the Emperor”
“To fight this Lord Sidious, strong enough, you are not"
Obi-wan and Padme
"When was the last time you saw him?”
“Yesterday”
“Padme, Anakin has…”
“Not Anakin!”
“I have seen a security hologram…”
“I don’t believe you. I…can’t.”
“He was deceived by a lie. We all were. It appears that the Chancellor is behind everything, including the war. Palpatine is the Sith Lord we’ve been looking for.”
“You’re going to kill him, aren’t you?”
“He has become a very great threat.”
“I can’t”
“Anakin is the father, isn’t he? I’m so sorry.”
(remove all Mustafar scenes)
Palpatine vs Yoda
(remove references to Palpatine’s new apprentice)
Yoda Meditates
Arrival of Obi-wan and Padme
(remove lines about there being good in him, but all else can stay. This way Anakin’s fears become prophetic)
Denouement scenes
(remove construction of Death Star. All other scenes can stay)