Sure edit out the following:
Scenes with Nemoidians speaking
Scenes with Anikin speaking
Scenes with Watto
Scenes with Jar Jar Binks
Scenes with the droids being 'goofy'
Scenes with Padme speaking
Scenes with Boss Nass
Do that and you might have something worth watching
The CGI was annoying, no doubt. At the time CGI was the new hotness and people thought they would eventually be better than practical effects. What we see with the prequels and modern marvel movies etc is that when everything is shot on greenscreen, actors reactions are off, lighting is off, and there's no reality to ground the production in which makes the action meaningless. So in this case the CGI characters were not up to scratch, because CGI was even less ready then than it is today. It's still shit by the way. With all that said, Watto annoyed me less than the others.
Anakin was too young - consider the direction taken later in the series they should have gone with an older teenager or something like that, so that would be a change that I'd make. The droids were always goofy - in the original trilogy they were the comedy light relief. One could argue that their presence meant that adding Jar Jar Binks overbalanced the light relief. Certainly I'd trim his appearances down a bit.
Padme, I get what they were trying to do with the accent, but it doesn't work, agreed. However, the character is fine. I think some script editing could have improved things, but then again Star Wars always did have clunky writing. Search your feelings, you know it to be true.
To me it did a lot of things right. The intrigue and political stuff, the machinations of the sith and how the emperor came to be, those things are fascinating and I like that George Lucas was brave enough to stick to his vision and create something that wasn't a safe rehash of the originals like TFA or subverting expectations like Last Jedi. It told its own story in the Star Wars universe, and it paved the way for wonderful things like KOTOR. Indeed, while I used to look at Ep 1 and proclaim it un-star-wars, playing KOTOR made me appreciate the world-building and brought those prequels back into Star Wars for me.
No doubt part of my feelings towards the prequels has been affected by how shit the sequels were, a comparison that strongly favours the prequels, and part of it is what they could be, what they were hinting at, but honestly also some of it is just that I can sit and watch those films and have a good time with them, just as I did with the originals, and like I can't with the sequels.