The Phatom Editor's EpII recut "Attack of the Phantom" is a fan edit masterpiece. Still the best i've seen. Plus it has a really entertaining commentary track!
Also keep in mind that The Phatom is a "real" editor who has been working in Hollywood for many years. He's a true pro and is one of those handfull of artists out there that seem born to do what they do.
Now just because someone is a pro doesn't mean they are good - look at Lucas :-D the razor sharp instinct it takes to be a great editor are just that - instincts - and it's something you are either born with or not. Spielberg is like that; every time I see one of his films, even if the movie doesn't turn out great, there are always flashes of brilliance - usually the way a shot is staged - that make you say "wow I never would have thought of that."
Unfortunately, the desire to be an editor isn't going to be enough for most people to become one, simply because they weren't blessed with that 6th sense (which is why 90% of the edits here are ok but not great).
But I'm sure a few of the guys here will edit their first film and realize they are onto something... they love the process and will spend weeks on a single edit, agonizing over a few frames here and there, or spending an entire day just to rework the audio to cover an edit (I know, i've been there).
those are the ones who will probably move on to greatness! And we can say we knew them way back when
Anyway, Attack of the Phantom is the result of someone who really knows what he's doing. Personally, i'd go as far as to say that anyone who doesn't think his cut of Ep II is brilliant and makes it a better movie has no idea what they are talking about! That's how good I think it is.
But like I also said, he has a commentary track on there where he explain the reasons behind every cut, and it's like a 4 week editing class compressed into a 2 hour lesson. Anyone out there who has a serious interest in editing really should closely examine "Atttack of the Phantom" and listen to his commentary. I guarantee it will be an education (or at least provide an extra 2 hours of entertainment).