I did that a few years ago, soon as the Behind the Magic CD-ROM came out. It wasn't too shabby, and it helped inspire my defunct website on the rough cut, which was enjoyed by a young film-maker named Garrett; but I'd want more on there than just the Biggs scenes, the Obi-wan's house scene and the original Jabba footage. Deleted Magic gets you closer to the rough cut than anything else has before. You could edit all of the material presented in Deleted Magic into a version closer to the rough cut, but I'd wait to see if Lucas released anything else in the next year.

Wasn't this thread about Revenge of the Sith?