Bingowings said:

It wouldn't make much sense.

It makes more sense that Dooku appear on the council in TPM (physically or in holographic form) and Sidious remain Palpatine, otherwise where does Palpatine's rise as a powerful force using dictator come from?

That shouldn't change, just not so in your face like it was in the prequels. By having Dooku be "The Phantom Menace" you have a more interesting reveal in ep. 2. Palpatine was way too obvious. He would still play both sides the same way he always had, just not all stupid-like. Why the heck would you risk showing off your face in a hologram like that??? While you're looking at Dooku as "The almighty villian" you get taken back when he's killed so quickly in 3 allowing Palpy to make his rise to power.... And making it far more interesting.