Assuming that the spoilers, script reviews, script summaries, etc. are mostly accurate, it seems that there is a ton of events that need to take place in 1 movie, Episode 3. If AOTC ends with Padme & Anakin's wedding that makes Episode 3 pack filled with events. The Clone War itself, the revelation of Darth Sidious/Palpatine, Count Dooku going down, Anakin's turn, the Skywalker twins being born, Mace's death, Anakin/Obi-Wan duel, Yoda & Obi-Wan hiding, the final issues with Jar Jar and Padme. The new Empire, it just seems like an awful lot to cram into 2 hours.
But I believe II & III will be the best of all the movies just based on how dark and disastrous the events unfolding turn out to be. You don't get movies these days too much where the bad guys win...at least for a little while.