Some ideas for Episode 1:
Trimming the entire Tatooine sequence should mean having each scene propel you into the next one. As released, the movie just toddles along with just a shade more direction than if it were completely random.
It boils down to a few sequences:
--Finding a hyperdrive at Watto's
--Finding cover from the storm/meeting Skywalker family
--Getting ready for the pod race
--The Pod Race
--Collecting everything so the Queen can leave Tatooine
--Fighting to escape Tatooine
Looking at each of these sequences-- man, they drag on and on. One thing I notice during these sequences is that the tension is really low until Darth Maul shows up. Another thing is that Getting ready for the pod race seems to take forever.
So I want to suggest a couple things:
What if you had Darth Maul arrive during the sand storm? The darkness under which he arrives would match visually and actually be more interesting if a steady HOWLING WIND sound effect was laid over it. Then his seeking probe droids could be cut in among the following scenes keeping the sense of tension higher.
Second, I want to suggest cutting a lot of the pod-race prep. There is a really natural and cool cut suggested by the footage: when Annikan gets his pod racer going for the first time and sits in it yelling "It's working!"... the natural next image would be the swooping in shot over the crowd at the race. Nothing happens in between that matters.
What, you say? What about Watto and Qui Gonn deciding to gamble over the boy slave? Unnecessary, I say. If we don't see it ahead of time, it would be revealed when Qui Gonn goes to collect his stuff from Watto. It would actually be, imho, a nice surprise added to a script starved for surprises.
Sorry for the long post. These ideas may seem to bring up problems. I have thought out solutions, but I'll spare you for now.