I finished up the Star Wars crawl this morning and the mpv and ac3 files is being rendered out of Vegas as we speak (which is what I'll use to create the Xvid version).
The Edit is now 150 minutes and 37 seconds (or just over 2 and a half hours).

Akwat Kbrana: I've been working on it since early June, so it's been about 4-5 weeks. On the "Obi-Wan vs. Anakin" scenes, yeah, a lot of the indoor lightsaber duel was removed - and yes, the "Chosen One" subplot was also removed completely from the story.

GoodMusician: If you're talking about the end of Episode 1 and 2 segments being "skitsafrenic", it might seem like that to you because a lot of the plot for Episode 1 and 2 have been re-edited/restructured, so it probably is confusing to watch without the rest of the film to provide context.