As a former telecine assist operator, I can tell you that 1:37 film was pretty easy to transfer to a 1.33 format. A pan & scan transfer required editorial and artistic decisions by the telecine operator, usually without the supervision of the director or cinematographer, and often without input from anyone from a studio. What really got to me was that consumers could often not be convinced that pan & scan was worse that a film letterboxed for a 4:33 monitor. They felt they were getting shortchanged if the screen wasn't completely filled. I guess you can't cure stupid.
Later on, I performed some digital restoration work. Often I and others felt the work was overdone, as ordered by the studios. Taking every film defect away seem to make them look too "flat". Leaving some film defects gives a film some depth. A lot of the work was strangely driven by bloggers that criticized every little speck of positive or negative dirt. It all depended on how many hours a studio would allow a post house to bill. And when a studio would pull out all the stops, like on "Lawrence of Arabia", the results could be breathtaking.
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