Can we make the podrace just one lap? This might make it seem shorter and heighten the tension. Maybe use the best parts from all the laps and combine them into one extended lap.
I remember watching Episode I for the first time. When they got to the end of the first lap and started the second, I said to myself "Whoa, nobody said anything about three laps."
And please get rid of the two headed announcer altogether if possible. I HATED that guy.