I think it looks kind of naked without the "Episode IV" in the crawl.

And if George didn't plan on there being any sequels, why did he come up for an idea for a low budget sequel in case the first movie didn't do well enough?

I don't know why people are so intent on calling George a liar and saying that he never planned certain things the way he did, just because he didn't write them down in a published script draft. I've got tons of ideas in the back of my head that I've never published or even written down.

Star Wars Purist said:

Should we go back and change the title of every movie that is eponymous with the franchise which it spawned?

Personally, I kind of thought it was dumb that they changed the title of Pitch Black to Chronicles of Riddick: Pitch Black (only on box art, etc., not in the film itself), but then the second live action film is still just called "Chronicles of Riddick".