Wow, that sounds - immersive! For the right audience that could be an intriguing way in to a first viewing.

Of course, there are other opportunities in the 'installation' approach. You could take the Secret Cinema route and do a bit of world building, i.e. turn your screening room into the cantina or a rebel/Imperial briefing room.

http://www.telegraph.co.uk/film/star-wars--the-empire-strikes-back/secret-cinema/

Or for something less labour intensive (and closer to Hooterdear's suggestion) you could recreate a 1970s/1980s cinema, with contemporary decor, snacks and on-screen materials.

Some details of my own efforts in that area here: http://originaltrilogy.com/forum/topic.cfm/1977-UK-theatre-intro-reconstruction/topic/14490/