I think that the big problem for Lucas was that he was surrounded by "Yes-Men" when he made the prequels. Back when he made the Original Trilogy he had people there that would tell him that they thought some things were bad ideas, like Luke Skywalker being dwarf sized (I kid you not).
I also feel that a lot of the passion that was present for the Original Trilogy was absent in the Prequels. I get a strong feeling that Lucas didn't really want to come back to the Prequels and that he would have rather done other movies. The Original Trilogy gave him a lot, but it also cost him a lot, he either had a heart-attack or stroke (can't remember which) on the set of Star Wars, Return of the Jedi cost him his marriage and he was expected to make other films in the series after having finished 6. So, I think he just kind of came back to get the prequel trilogy done and finish the tale. I don't think he half-assed it or didn't try, I think he just struggled a bit with it because the passion that was present for the Original Trilogy wasn't there for the Prequels.
I can't help but feel bad for George Lucas. He made something so immensely popular and was forced to focus on follow-ups instead of being able to go off and do other films. I respect George Lucas and I am glad that he came back and finished the series, even if it wasn't exactly what I wanted. I guess he could have passed the series off to someone else back then, but I think he wanted to be able to finish his vision for the saga and he has never really liked Hollywood or its practices from what I've read.
Well, I guess you have watched the inevitable Red Letter Media-reviews of the PT then, since I saw there that behind the scenes footage of the first watching of the raw cut of Phantom MEnace with Lucas and his producers etc ... I think this is right somehow, he might not have had a lot of people standing up to him. Or give him creative input. I think its vital for any writer or director to have people telling him what might work or not, or different opinions. If you are only focused on your own stuff you either get something genius or ... stuff like Matrix 2 + 3
Yet I am not so sure if Lucas really didn't want to do it. I could also imagine that indeed he wanted to use the awesome new technologies and create a Star Wars of the new era...and the problem maybe wasn't that the "heart" was missing, but PR-people told him (or he thought it himself) that we needed a kid-Vader to atract youngsters, have not too much real violence and war-stuff in STAR WARS (we got childish droids and faceless clones, no real people with real lives to relate to, like friggin Porkins, Biggs, Dack, Wedge!) ... and then he tried to take the kid-friendly stuff and combined it with "Fall of the Roman Empire"...
I still fail to see how that could have worked out ...
And in the end it indeed may have left him a little tired...all the backlash of fans, critics etc...no matter what I don't think this leaves one unaffected. I really don't like joining the huge bandwagon of Lucas-is-the-antichrist...though I still can't watch the PT without thinking about how much better it could have been (if I had written the script, of course !
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Every change George Lucas made to Star Wars is depressing.
You mena the Special Versions of the OT? Not everything. Better Special Effects? Thanks, I take it. Having actually 30 Fighters attack the Death Star? Makes sense. Some dewbacks, better sabers? No problem! Ian MCDiarmid replacing the other Emperor? I am game ...the musical-number in the palace? Miles more entertaining!
I only rolled my eyes at the replacement of Sebastian Shaw with Hayden, made no sense at all. And the scenes on Coruscant with the cheering crowd...well, I still believe right after the cut we don't see how a Tie-Bomber-Squad eradicates the crowd and returns the order...