Well it does appear George Lucas is pretty serious about the whole Live-Action TV series. So it looks like we will be seeing this somewhere down the line.
After meditating on this for a while now I have had some thoughts on this.

This could be really auesome or really bad! For one I have grown rather attached with the actors and actresses and their characters. To have different actors and actresses in the TV series would just be wierd. Now I'm sure some of the actors and all would be the same. (Frank Oz better do Yoda!) And its not like it matters who is under the Vader suit as long as we have James Earl Jones doing the voice-over.

Also what is this thing going to look like in terms of Special effects and all. I can tell you one thing it won't be anywhere close to the effects in ROTS. Thats what was good about the "Clone Wars" microseries- it couldn't be compared to the movies because it was animation.

Most of all I hope GL comes up with a good story. I'm sure he will though this is GL we are talking about. I believe it would supposedly cover the time between episodes III and IV. That time period has a lot of potential for a good story- the completion of Order 66, the rise of the new empire, and the two Jedi in exile, The forming of the Rebellion, and the Construction of the Death star. (A scene in there with the clones picking up new helmets would be cool.)

Well lets hope GL decides to give this a go. It has the potential of being an auesome TV series!
Probably won't happen anytime soon though...

As always comments are appreciated!