Basically the way I see it, George can screw with the films and make as many changes as he wants... Make the whole thing one story arc surrounding the fall and redemption of Jar Jar for all I care... So long as the original films are still available...
Lots of dvd releases have seamless branching for multiple versions of 1 film. It's not hard to do. There's no reason not to include the original versions, really.
Basically, it seems like George has gone back, second guessed, and screwed up the adaptation to make it "cool", and now has decided he doesn't want the original one allowed on the shelves.
It's really sad that he's gone from such a visionary in the 80's to someone who with $150 million dollars (TPM), got his film out done in every department (story, acting, and effects) by a film student with a mac and a lot of resilience (BotF).