Here's what GL has to cover in Ep3.
1. Anakin's cross-over to the darkside
2. Anakin's seperation from obi-wan
3. Anakin's married-life with Padme
4. Padme's pregnancy
5. The twins
6. The Darth Sidious/Palpatine connection
7. Slaughter of the Jedi
8. Palpatine's dictatorship over the republic
9. Boba Fett
10. Mace Windu and his death
11. The Sifo-Dyas storyline
12. Anakin's transformation into Vader
13. Padme's death
14. Tidbits with Grand Moff Tarkin, and cameos from other future characters
15. Yoda's exile to Dagabah and Obi-wan's exile to Tatooine
16. Mindless action scenes and saber duels
17. Military might of the empire
18. Jar Jar Binks
19. Organa
20. And Count Dooku's death
As you can see there isn't enough room to explain everything. If only Lucas wasn't so tight about running time.