So from what I gather...
They aren't doing any new fixes to the 2004 Editions for this set.
We're getting three packs, priced at $30 each.
A Star Wars pack, an Empire Strikes Back pack, and a Return of the Jedi pack.
Each is two discs. Disc 1=2004 version (just as was previously released twice), Disc 2=1993 "theatrical" edition
I don't think it will literally be the "theatrical versions" because the 1993 editions could refer to those released on the home market, that is, with a different sound mix, and the original Star Wars would have the modified (1981) opening crawl "Episode IV: A New Hope."
Originally in the SW.com news update they made reference to the version of Star Wars BEFORE the opening crawl ws modified, but then quickly deleted that line, so they must have gotten false information.
But yeah, when you buy these packs, you'll be forced to get the 2004 version, which is exactly the same as the version that was released in 2004 (4 disc set) and in 2005 (3 disc set). No "Bonus Disc" with Empire of Dreams this time (that was only in the 4 disc set).
I agree with you that this is what they SHOULD have done in the first place, back in 2004. Rather, I think they should have delayed the 2004 set and released this that they're going to release in September, for the 2005 set. Make it a 7 disc set, leave out the Episode III junk and Battlefront II junk, which would leave room for Deleted Scenes, fix the bad color timing and sound gaffes, and that would be the "ultimate" Star Wars DVD set. Sadly, that's just wishful thinking. I'm not in charge over at the Ranch, so this is what we got.
At least another set means another opportunity for fans to make their own edits if they like. The Deleted Scenes remain in low quality format on the 'net and on the out of print "Behind the Magic" CD-ROM (though a few can be seen on the trailers on the Bonus Disc).