When the first edition of SE came out, I bought 1 of the only 3 copies my local Blockbuster got. That is how much some people (back then) felt about widescreen vs. pan-and-scan.

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Seems a lot of it is still just about money, imho.

Bingo!!!
Ding-ding-ding, give this man a cookie.

Some people DON'T like widescreen (I have yet to meet any myself). By not releasing it in pan-and-scan, you've just limited your potential number of buyers, reducing the amount of money you get make off the sale.