I don't think the prequels were "as bad as all that," but after reading SW Insider leading up to it (I have since canceled my subscription, thank Christ) and being a fan in general I expected quite a bit more. Most of the talent was wasted. Such a shame to see a great actor like Neeson being misused.
That being said, I look forward to Episode III. AOTC was a noticable improvement over TPM, and I'm hoping to see that same jump in quality.