Saw them in release order originally and recently watched them in episode order. I've heard for years about going IV,V, I, II, III, VI and I can see how it works, but I never thought of how perfectly it would work if you just chopped out episode 1 entirely.
Man, that movie is not entertaining. At all.
I don't really care for VI *too* much (especially compared to IV and V)...I consider VI around II in quality. Not terrible and certainly has some awesome moments, but some really nagging bits that seriously damage the whole experience.
III is balls to the wall hot as fuck. Even that silly surf ninja fight at the end. Even the NOOOOOOOOO.
and Obi's call to the sand people in episode IV on the new BD release is so fucking stupid sounding.