From what i've observed, Lucas' "original vision" is severely flawed. The only reason Star Wars became what it is was because of talented people like Gary Kurtz, Marcia Lucas and many others who helped him create balance and shell out a story that was magical and facinating. When Lucas has complete control, he just can't get it together.
The reason the PT was bad for me was not so much the story (although a few tweaks here and there would have helped), but the fact that Lucas, to me, looks like he has no idea what he's doing. It's so painfully obvious, and I feel that the only reason people even LIKE these films is BECAUSE they are Star Wars.
Look at what Lucas has done virtually solo: Return of the Jedi, Howard the Duck, Phantom Menace, Attack of the Clones, Revenge of the Sith. Now look what he has done in collaboration: American Graffitti, Star Wars, Empire Strikes Back, Raiders of the Lost Ark, Indiana Jones and the Temple of Doom, Indiana Jones and the Last Crusade.
See the pattern?