I have also contemplated rewriting the prequal story simply to prove I can do a better job.
My biggest complaint about the dialogue in the pt is a simple one. Contractions. The lack of which makes everything sound stilted and less real then it already is. You're in an unrealistic environment, the suspension of belief is being pushed as it is. Now I understand it's supposed to be before the Fall of the Republic, so everything is a bit more regal, but I would have much, MUCH rather seen (and heard) an order of grizzled, war battered jedi knights talk closer to the way we do...or at least have Anakin and Obi-Wan go about their adventures with dialogue in the spirit of Han and Luke, as opposed to "Shakespearean".