I attempted this a long time ago until Adywan came out with his first test shots which blew me out of water in terms of quality.
At that point I had created a clean back plate, a clean chewie in the background who was covered by the mis-aligned blade and created a mask of Luke's hand with the hilt. Even then the original blade made that part very difficult to compensate and not look odd.
At one point I even considered creating a new hilt but it was out of my skill range.
I must say Adywan's fix of that scene is fantastic and has managed to turn a very badly done old effect around. I'm sure a lot of hard work went into that 143 frames of footage on board the falcon. I love Alderan's new destruction and loved the Jimmy Smits version too but I gotta say I got more excited when I saw the fixed lightsaber scene. That and the mssing window behind the stromtroopers on Bespin in ESB are two things I've found very hard to ignore.
Thanks Adywan!