I've often thought of re-writing the prequels. It would be interesting. I enjoyed the animated prequels thread that used to be fairly active as well.
I keep hoping that in my lifetime, maybe once Lucas leaves us, his daughter may have the sense to reboot the prequels and find some amazing directors to completely re-imagine them.
I know way back in the day, Lucas planned on handling the prequels in a similar way as the OT. He was to direct the first, and then he would hire 2 directors to finish. Names in the running were Steven Spielberg and James Cameron at the time. So, basically we probably would have still gotten TPM, but maybe some amazing follow-ups to wash the bad taste out of our mouths.