I've enjoyed this discussion, since it made me think about things a little differently.
In spite of the disagreements, I think Matt_S has made some good points. He's been articulate and well behaved, even if a little repetitious. He hasn't taken his toys and run home.
If Lucas released what Matt_S is proposing, my guess is that 99% of Star Wars fans would be cool with it. The 1% that still clamored for a pure unaltered release would look pretty ungrateful to the other 99%. Regardless of right or wrong, I think that's a valid observation.