I think it would have been better for the entire series. My point in asking this question is NOT to slam Jake Lloyd, because as JediTricks just stated in a post, Lloyd himself is not to blame for a subpar result.
I see why Lucas wanted Ani as a child, and I believe he sought to show the young character as a true innocent - thus making his fall all the more tragic. Instead, I feel Anakin should have been a teenager for the sake of continuity.
The prequels do not have a real trilogy feel to me. I believe that when completed, Episodes II and II will go hand in hand, while TPM will be . . . . . . . . . distant. I think that if the same actor played Anakin in all three, we could better follow the character. Hayden (or someone else) could have played a 15 year old Anakin at age 17, and a few years later I'm sure a 25 year old Anakin would be very believable. It wouldn't change the storyline, in fact I think it would enhance Yoda's ESB claim that Luke is too old.