I've heard interviews with him on the DVD (which you should have) that state that he didn't consider the movies to be suited for widescreen, and that he shot them in 1.33:1 because more people would end up seeing the movie on video anyway. Last time I brought this up here, someone proposed that he could have been referring to 2.33:1 as wide rather than 1.88:1 (which is the ratio the widescreen version of it is in), which could be a possibility. I personally prefer the widescreen versions, and I own them that way on DVD, but in this case there is nothing wrong with the fullscreen, and in terms of your versions, less wrong with the fullscreen.

But it gets even more complicated than that, I just remembered! The special effects shots were filmed in a 1.88:1 ratio, so you're actually seeing the full image of special effects shots in the widescreen version while the fullscreen version crops them! So basically, in either version, you're losing some parts of the picture... which sucks.