Most people generally perceive the taller 1.78 image as feeling "bigger" despite the 2.35 image being wider. Going 1.78 gives you the most flexibility and best of both worlds (in terms of acheiving max image size regardless of content ratio), but it sounds like the top/bottom bars might bother you too much. Also, some don't like having a 1.78 movie "feel" bigger than a 2.35 one so they go with a 2.35 screen in order to get a smaller 1.78 image.

M80s, VP180, QS8s, EP800 v3