Yep.
I think Lucas is a bit overly defensive on the whole studio executive cuts thing. Yes, sometimes executives can destroy a film by mandating changes (take a look at Kingdom of Heaven. Ridley Scott's director's cut was by FAR superior to the theatrical release, restoring several MAJOR subplots and even details of the main plot). However sometimes a filmmaker NEEDS to be put on a leash, and those changes and cuts end up for the better. Part of the reason the original Star Wars films (and especially Empire) are so much more highly regarded than the prequels was because Lucas did NOT have free reign to do things exactly as he pleased.