What would the Miramax version of Lord Of The Rings looked like?

I have a question, but what would the Miramax version of Lord Of The Rings looked like?

From what I read and to make it short, Peter Jackson pitched Lord of the Rings to Miramax in the late 1990s, and they wanted to make the series. However, they wanted Peter to make it only 2 films, then 1 2 hour film. When Peter refused, Miramax threatened to replaced him with either John Madden or Quentin Tarantino, but they eventually allowed him to shopped to project around with every studio refusing until he went to New Line, who not only agree to do the series, but also expanded it to 3 films.

However, I want to know what the Miramax version of Lord Of The Rings wood of looked like. Apparently, from what I read, Miramax wanted Peter Jackson to considered Paul Scofield or Morgan Freeman for Gandalf, and Daniel Day Lewis, David Bowie, Max von Sydow, Natascha McElhone, Claire Forlani and Francesca Annis. for other roles.

All in All, Do you think the 2 film version would of been as good as what we got?