Phantom Menace was possibly the worst conversion I've ever seen (and I've seen all of them except Last Airbender). I know there is only so much you can do with a 12 year old movie that wasn't meant to be in 3D to begin with, but the image was so flat and so many obvious opportunities to tweak parallax and convergence missed that the whole thing seemed pointless. Other than two or three scenes it felt to me like I was watching a 2D movie with glasses on (I also don't think it was the fault of the projectionist as the 3D previews that played before the movie looked great).
I'm glad to read that Attack of the Clones looks better but also off-put by the admission from ILM that Phantom Menace was problematic and even internally something of a disappointment. Based on the article it sounds like the original trilogy may not get a 3D conversion unless conversion technology advances dramatically in the next year or so.
My experience with Phantom Menace has made me very wary of conversions from Lucasfilm.. Some reviewers gave Phantom Menace a positive 3D writeup and in hindsight I wonder what they were looking at (or, perhaps more appropriately, what they were paid). I definitely won't blind buy a ticket for Attack of the Clones until there is a much larger pool of feedback.
Xbox Live: XboxPhantom