Interesting. My one concern (and maybe he addressed this somewhere in there, I didn't read it all) would be that II and III would actually look worse in this equation. They benefited the most of any of the films from the comparison. Even at their weakest moments people could still say, "Well it's not Episode I." Now you're chasing what is probably the best film in the series (or at least the one that is the least outrightly summer blockbustery) with two films that are still weaker than anything in the original trilogy.
Then again when you're dealing with any big narrative arc there's usually a few chapters where the quality takes a dip in the middle anyways.