That's cool, as an indie I relate to the budget conscience rationale. I just don't understand the sustained infatuation? Especially when considering the time period and the expectations placed on indies back then compared to indies now, it's an entirely different strategy now.
I’m watching the 2004 independent spirit awards and I see nominated films like, American Splendor, Monster, and Lost in Translation…these are indies now. They’re of professional caliber, yet they’re indie. I make indies, and I’d like to convince myself I could compete with them, and maybe when I get the funding I will, but I can assure you, Robert Rodriguez would not have been anywhere near achieving the same recognition had he tried to push something like El Mariachi through the mainstream currents of indie filmmaking today. That’s all I’m really trying to say.
Anyhow, I know Lucas did remake a student film of his while attending USC, transforming it into THX1138. I actually have a copy of that film, and another student film of his called Freinheit; pretty cool stuff.