Wow, that first post is old. I'd organize everything new here, but I feel a bit too lazy to do that right now. If you read through this thread you'll see a lot progressed over the course of this project, for the much better.
Original First Post:
It's about time these films get some new treatment, and so I have started work on new "filmized" editions of Episodes I, II, and III. Using the OT blurays as sources for grain structure/detail analyzation (although the grain will match closest to ANH), and Harmy's Despecialized OT as colour correction refferences, I will match the three films' looks to the OT. I hope these new editions will be great for faneditors working on PT edits (such as myself) or if you're some nutcase who actually can stand watching any of the Prequels.
The colour correction is being acheived via After effects, speedgrade, and Magic Bullet Suite. I will be releasing these in uncut 1080p m4v's with bitrates around 31 mbps. All will be released the same day (hopefully within only several months), and that point I'll allow PM's for links.
Previews will start to come within a few weeks.