I've suggested this before, but I'm going to expand on it a bit. In my mind, the PT should have centered on the Clone Wars. But if you're just watching the films, the Clone Wars exist as little more than a battle at the end of Ep II and a battle in the opening of Ep III. When I saw Ep III, I'd never seen any Clone Wars material, and therefore felt a bit cheated.
I think a brilliant way to edit the whole trilogy would require an adaptation to a different "stylistic choice." In other words, I think a cross between Ep I and Ep II should be Ep I, Ep III should be Ep III, but Ep II should be an edit of the Clone Wars series. I have a feeling that time lapses could be inferred, various battles shown, and still it not feel rushed. Ideas that would need to be included would be a few battles, a proper introduction to General Grievous, a reintroduction to Darth Maul, and ultimately Palpatine's capture (hopefully shown when they wrap up the series).
This would improve the whole trilogy in multiple ways: it would keep a more consistent bad guy (Maul comes back), makes Grievous a useful character that we care about killing in Ep III, and makes the war feel like the focus of the trilogy, not a cheesy romance. Perhaps we could even see Anakin's fall as a bit more realistic, as we might see him making other angry choices, and not just those motivated by his love for Shmi or Padme.
My reason for reposting this thought is that I know Maul lives in the series. I haven't seen the episodes and I have avoided reading spoilers for when I eventually do, but I don't know how they explain how he survived. But perhaps, if the proper footage survives, someone could sell his survival for another episode.
Darth Maul was not severed in press releases of Ep I. I have seen a picture somewhere, though I can't find it. However, it is mentioned here:
http://www.imdb.com/title/tt0120915/alternateversions
If that footage (bootlegged, most likely) could be found, it would make his survival more believable and lead well to a sequel.
EDIT: It occurs to me that perhaps there may also be footage in The Clone Wars that might help resolve my previous comment, in that perhaps it could be made to appear that another Jedi trainee becomes Vader, or at least that Obi-Wan has other trainees that could take the job. I haven't seen many episodes, though, so I don't know.