To build on your ideas, in my mind, there would be no C3-PO in the PT either. Like a kid on tatooine was able to build him. Yeah right. Just R2 to explain how Obi-wan knew him. Also, Padme would live through it, and presumably be caught and killed by the empire in between eps. 3 and 4.
Also, Anakin's demise as he loses his limbs wouldn't be a blink and you miss it sort of thing. It'd be much slower, though I can't think of how. Maybe someone else can come up with something.
And the destruction of the Jedi wouldn't happen so fast. And Anakin would actually have had a hand in it beyond killing children. Episode three needed to be all about the hunting down of the Jedi and Anakin's injury that put him in the suit.
Episodes one and two would basically be one episode, with episode two being the clone wars and some of ROTS, including Anakin's seduction. Episode three would be the hunting down of the Jedi and some of the in-between years.