ROTJ is a big mess too but it is salvageable... And would clock in at at least just over the 2 hour mark
I think it could be better to make the whole PT into one film and butcher the hell out of it (coming in under 2 hours)... There is so much stuff worth cutting out of them and just keep the main plot points.
1 decent movie or 3 rubbish ones.. That's the only way I see it to be honest