I am among the disappointed with episode 1 crowd.
It had some great action scenes that I really loved.
But they were trapped in a movie of very marginal plot.
As cool as the action was, I don't think the movie would have had a chance of creating the sensation that is Star Wars if it had been the first one out.
I was also very disappointed that it was not at all true to the feeling of the other 3 movies.
In Episodes 4-6 you have the great struggle between good and evil, where things go badly and people die to serve the cause. Even the cute little ewoks get killed.
Epoisode 1 was all kid gloves and simplicity. An army of robots, just so the heros can destroy them without killing anyone.
Instead of a heroic battle, you get Jar-Jar destroying a bunch of robots through a stupid slapstick routine.
Very rarely do you see anyone dying (major plot deaths aside). It takes the sense of heroism and sacrifice out of it.
Same with the major space battle. Won by great determination and sacrifice? Nope. Won by sheer stupidity. Destroying the first Death Star was this great acheivement and Luke's coming of age in learning to trust the force. Anakin goes for a ride and wipes out the enemy as a tourist.
In ep 4-6 the force was this great power in the universe, but you still had to pull your own weight. Obi Wan was usually calm, but never cocky. In ep 1 the big (stupid) fish monster grabs them and the jedi don't even flich, they just assume that they will be saved by some larger force. BLEHHHH
Anakin jumping out of the car 100 stories up in the Ep 2 trailer looks like the same crap.
And I felt the whole scientific basis for the Force is a big Lucas apology to the Hollywood crowd for having a positive portrayal of religion in the first movies. And it is not that I am religious, it is just that external crap like that should not change the fundamental concepts of the setting. It is inconsistent and irritating without advancing the plot at all.
The R2-D2 origin story was really cool. The C-3PO story was stupid.
And no matter how cute they make him, I am not going to feel sorry for space-hitler, or feel there were extenuating circumstances leading to the destruction of Alderan.
Will I go see ep2? Hell Yes.
Am I looking forward to it? Yes. 3 out of 4 earns an instant a free look at 5.
Am I exicited? Not really. It might be great and I am sure that the action will be very good. But I think the odds are good that the fundamentals I so enjoyed in the first 3 will get shredded some more.