>>Do I set up the screen so that it fits the 16 x 9 size I want and then it will just have the black bars above and below when I watch movies. If that is so I don't mind that at all. I would just hate to have to play with my projector everytime I wanted to watch a different format.
That is the normal approach -- 16:9 screen, and set the projector to fill the screen with a 1.85:1 anamorphic aka "widescreen enhanced" DVD (the most common). You will get black bars above and below a 2.35:1 DVD but you won't have to play with anything.
The one exception will be 4:3 DVDs, eg old TV shows and movies. They get stretched horizontally on my player / projector combo (Pioneer 578, Sanyo Z4) and I have to use the projector remote to force the projector into 4:3 mode.
I don't really care though -- I'm running a 2:1 screen (4x8 feet) and am constantly fiddling with the projector when switching between 1.85 and 2.35 DVDs to get a relatively constant screen area. Normal people might not want to do that
