Check out this link and this link. The story would follow the Jedi regaining control of the universe from the many Dark Lords some 88 years before Anakin Skywalker ever graced the universe. Yoda, who, according to Lucas, was instrumental in the effort, would apparently have a headlining role. However, Lucas, now age 60, says he won't be captaining such a ship if it ever happens.

I know some people think it's enough and don't want Star Wars milked like Star Trek was. But let's face it, Star Wars is a financial empire, bringing in more money than some countries in the world. The quality has always been there, arguably even in The Phantom Menace. The Knights of the Old Republic series is a great insight into the old sith, and a movie before the Phantom Menace sure would show a lot more of a great story.

After all, how could you not love a younger Yoda? and probably younger palpatine, or at least apprentice palpatine.

I think I would prefer this movie to be made more than the TV series, but hey... the TV series would give some cool insight to the 30 year gap between episodes 3 and 4.

Overall, the Star Wars universe is a great genre of story telling. It makes you ask questions about religion, politics, and technology. However, it doesn't force dogma down your throat on any of those. Lucas has said this time and time again, if by seeing this fun storyline unfold, people (especially young ones) start to have interest in these topics, then he has succeeded. I for one say that he has.