TV's Frink said:

There are a few little bits that could be cut out because they do nothing either for jokes or for keeping any sense of continuity. In fact, that quick shot of Anakin's intro at the podrace ("a local boy") is one that I could easily lose. A couple of ship landing shots also fall into this category. Not sure if it's worth the bother, however. Again, it really doesn't amount to much time at all.

And I like that Qui-Gon looks paranoid during the underwater scenes, always looking for the giant fish which never shows up.

And I don't blame you, I blame Lucas for making us have to cut around this thing to begin with.