That's the edit I've been waiting for! Similar to, but not as drastic as, the MagnoliaFan edits and keeping all original story elements and characters. (AKA not changing Jar Jar or making Dooku's saber yellow)
Are you changing the actual title's of the films too?
I'd be very interested in seeing the finished product. ANd are you planning on editing episode III as well? (we all know the crawl of that one could use work for sure)