Of course you can do it, you can do whatever you want with your version. But then it will never be anything except that, your version.

But you have the chance to do something important, something with a historical purpose. Something greater. To preserve film history. That's a cause that is more "noble", shall we say, than editing someone else's work. The original Star Wars movies are great, and have a place in history. But these edits are just some things that some guys made on their PC's.

To quote Belloq in Raiders of the Lost Ark (defying Indy to blow up the ark):

"We are simply passing through history. This, this *is* history."

See, the OT is the Ark and we have no right to screw with it.

How do you like that, I used Lucas's own words (possibly) against him, yet again.