All 1.85:1 movies are cropped from 1.33:1. It's either hard-matted, which means it's cropped when first run through the projector (i.e., the remainder of the film is never exposed, so you have a non-anamorphic 1.85:1 image on a 1.33:1 frame), or it's soft-matted and done after, so the whole 1.33:1 frame is recorded. If this is the case, the director's intent is for it to be shown in 1.85:1 anyway, as they often even go so far as to put cardboard on the monitor to cover the frame. As such, the widescreen is the INTENDED aspect ratio, and the rest of the frame often even has boom mikes and other such mistakes showing. One movie (can't recall the name), a character is supposed to be naked, but in the "unmatted" fullscreen version it is very clear that he is wearing boxers, ruining the scene entirely.

So, widescreen's still the way to go.