To each their own, but I'm strongly against the machete cut, especially for a first time viewer. The Original Trilogy should be watched together. I feel like that cut ignores the huge disparity in quality from just a film perspective between ESB and TPM.
I don't hate the prequels but I can't personally imagine being a first time viewer and going from ESB's emotional ending right into trade negotiations, Jar Jar Binks, 9 minutes of pod racing, the stilted romantic dialogue in AOTC, ROTS, and then finally getting to ROTJ 7 hours later.
That would be so jarring.