I saw it at the Metreon in San Francisco and it looked great. Well worth the inflated ticket prices. I had the opposite feeling about it not taking up all of the screen, as I would have been very disapointed if they'd chopped it to pan&scan. I ended up sitting the seccond to the last row, and it was the closest I'd have wanted to be. Considering the Matrix DVD is the first one I pop in when I'm testing a new home theater component, seeing this one in the ultimate setting just seemed a requirement.
Matthew