Below I'm going to explain the title a bit, so that some of you can understand why Lucas most likely decided upon the title, based on what I know from reading the script. This has to do with some plot stuff, so you may not want to read it. If so, leave now and do not continue to read!
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Here we go...
Ok. THE PHANTOM MENACE
Sure it sounds like something completely non-Star Wars-y. But after you see the film, you'll most likely think of it as a very apt and clever title. WHy? Well, quite simply, because it is.
You see this whole film, this first one is a bit of misdirection. The enemy that Qui Gon and Obi Wan, Padme and Anakin... the bad guys are not the ultimate bad guys. Sure, these aliens, robots and such are causing a lot of strife, and sure the characters above think... "WOW WE WON" but we the audience will know, "NO NO, THAT'S THE REAL BAD GUY!!!! CHOP HIM IN HALF!!!" Thus the entire film concerns the Phantom Menace, the distraction with the left hand, while the right hand is palming the coin.
Just as we see A NEW HOPE in Episode IV, just as we watch THE EMPIRE STIKES BACK, and as we observe the RETURN OF THE JEDI. Each of those titles aptly describes the film that follows. In A NEW HOPE, we see a glimmer of hope in young Skywalker, this will become more powerful realized after we see the inevitable despair and hopelessness in Episode III. In THE EMPIRE STRIKES BACK... well, they did. The Empire killed lots of rebels, cut off Luke's hand and froze Han Solo. In RETURN OF THE JEDI, well we see that after the death of the last jedi in the galaxy, a new Jedi is born out of the ashes, the tale comes full circle.
Of course, who knows, perhaps this is George Lucas playing with all the Black Market T-Shirt and Hat makers of the world. Can't ya just see tons of fake flea market merchandise on their tables? Only to see George change it in March or April. However, I do believe this title will be on the film May 21st, 1999. Call it a feeling, it just feels right given the story.
So there ya go...
