Are you sure you're not confusing letterbox, widescreen, and full-frame/pan-and-scan?
Letterbox and Widescreen are interchangable terms, though the aspect ratios tend to change. Most movies today are filmed at 2.35:1 aspect ratio, but that sometimes gets bumped down to around 2.1:1 for DVD. Pan-and-scan/full-frame is where they chop off the edges to show the movie on a standard non-widescreen TV set. HDTV's will have a 1.78:1 aspect ratio, which is commonly referred to as 16x9. The really cool thing is Anamorphic Widescreen, which allows a wide-screen television to "unsqueeze" the video image contained on a DVD to fill the full widht of the TV while retaining a lot of vertical resolution, much more so than Letterboxing. Anamorphic Widescreen is the ultimate, with Letterbox/Widescreen second and Pan-and-Scan dead last.
As pontiac says, Wider is better, and those black bars don't bother me at all.
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