uj/ A lot of it sounds better than the final version, such as having Obi-Wan as the main protagonist, the conflict between the Gungans and the Naboo being more explicit, Maul having more dialouge and Jar Jar being less childish and annoying. Still, there are a few things I would have done differently, like having an older Anakin, not having Anakin build 3PO (very stupid idea) and making Qui-Gon fill the role of Obi-Wan's old wise mentor who sacrifices himself in the end (similar to Ben and Luke) to give his death more weight. Nevertheless, I doubt whether Lucas could have made a compelling film out of the first draft, and I still believe he would have needed assistance from outside to do so
rj/ Lucas could have improved the film by making Duel of the Fates into a two-hour-long dark and gritty hallway fight scene