reduce abv

What is the best way to go about producing a 4% ABV batch of a 6.5% ABV beer? I thought about adding 3 gallons water to a 5 gallon batch of 6.5% to produce 4% ABV but I worry about diluting the taste in the process. Anyone have any ideas on the subject?

I have a few recipes that I will certainly keep around all year. I would like to keep all the flavor, body, and aroma goodness but reduce the ABV% when I brew these in the summer time. Do I add water to the wort? Do I reduce the fermentables by reducing the base malt in the grain bill...