The issues with Anakin as child genius (and his immaculate conception), and the age difference between him and Amadala, were always the big issues for me. Jar Jar was just an... irritation.
This theory is plausable. But it doesn't fix the actual major problems with the prequels for me.
Once read a piece where someone suggested the "proper sequence" to watch the movies. Start with Ep4, then 5, 2, 3, 6. Set the stage with 4, big reveal on Vader in 5, backstory on Vader's Fall in 2 and 3, wrapup in 6. No mention of 1