There is an official VCD set of the Star Wars movies. However, they are all Pan&Scan and sourced from PAL masters so they're subject to speedup (I think the official Hong Kong discs are sourced from NTSC, but since they're all P&S I never bothered with any of them)
Video CDs can have surround sound. Its either MPEG surround or Dolby Surround but VCDs can't have Dolby Digital or dts 5.1 surround sound.
Also, the Hong Kong releases are made from new NTSC masters, albeit they are pan & scan.
The official releases...
DeltaMac Limited - Hong Kong
VideoVan Limited - Malaysia
If you don't see those names and logos on the packages, you have bootlegs. Also, Star Wars: Episode I - The Phantom Menace HK release had four postcards included in the package.
I got the Malaysian set for the Episode II preview (didn't want to give Lucasfilm money for yet another VHS version.) I'd stick with the widescreen VHS, if I were you. They're a nice set, but Star Wars is a picture where you really need widescreen (not that others aren't, but these make full use of the anamorphic frame, like Moulin Rouge.)