I personally wouldn't have written that story for Episodes 1-3, but the story itself isn't so bad. It was the execution. Midichlorians were unnecessary, the Flying Jedi Brothers was annoying sometimes, the dialogue was bad at times, and spending 1/3 of the PT on Anakin's childhood was WAAAY too much.
Simply adjusting those four elements would have made the PT much better - in particular ROTS - and made the Saga more cohesive.
But although I much prefer the OT, I can enjoy the PT for what it is. It's not as enjoyable as the OT and downright cringeworthy at times, but it's a whole lot better than the zero Star Wars films we got for fourteen years.