Don't worry I lose myself most of the time

What I'm trying to figure out is this:

*For 2.35 material you let Theatertek stretch the image vertically so that it removes the black bars, which means it will fit the whole lcd panel but the image will look stretched. Your lens stretches the image horizontally so that it now is back to the right ratio (which means that the height is the max height of the lcd panel - and screen- and the width is now the max width of your screen, right?

* For 1.33 Theatertek will display the image in a 1.78 format (the full size of the lcd panel) but with black bars on each sides (so I guess you would use the max amount of masking on the screen to hide them).

*For 1.78 it will display the image fully in the lcd panel without any need for black bars.

*For 1.85 Theatertek could zoom the image so that it fills the lcd panel but if I lock the aspect ratio so that the image doesn't distort that means I will lose a little bit of the image on each sides right? The other solution is to get Theatertek to stretch the image vertically so that the black bars disappear (kind of like what you would do with 2.35) but that would distort the image a little bit since you wouldn't have any other way to correct that with a lens.

I don't know if I make much sense here, or whether what I'm wondering about is even worth worrying about. The reason I ask is that for now I can't afford an anamorphic lens and so I will have to live with black bars for 2.35>= material and I don't want to have to put up with small black bars on 1.85 material if I don't have to.
Basically my current DVD player overscans slightly anything it displays through component (or it's the Z2 that does), thus the black bars that would appear on 1.85 material are just hidden in the overscan.