Haven't seen the project yet (still downloading), but the concept is great and I can't wait to see how it came out.
Would you consider doing a similar thing for the Episode I video game? It had a number of deleted scenes recreated, in addition to a lot of non-movie backstory. With some skillful editing, you might be able to get something very interesting out of it.
I don't remember what kind of game Episode II had (never played it), but maybe it would allow something to be done as well? I'd sure like to see a trilogy of prequel video game movies. After all, the prequel films were just glorified video games anyway...
--SKot