I have to make this brief for now, I saw this late.
If most of the content will be movies, then I am a fan of 2.35:1 for the aspect ratio. I finished a screen like that this summer (http://www.avsforum.com/t/1307389/new-2-35-1-silver-fire-screen-project
). And yes, it will eliminate the top and bottom bars on widescreen movies. Just be aware that the resulting 16:9 image (when watching sports on TV) will be only about 85". This is assuming a 2.23:1 screen that is 8 feet wide, which will be about 106" diagonal. A 100" 16:9 will be significantly less wide.
By the way, PIP can get you two 50" images side by side on a 106" 2.35:1 screen. I have done it. GREAT for football season.
If you can, try to get eyes on a widescreen movie projected on a 16:9 screen by the projector you plan to buy. I went with the 2.35:1 screen because my projector has a relatively anemic contrast ratio, and resulted in rather bothersome bars. The epson contrast ratio may be such that they won't bother you.
Pick a throw distance within about 10% of the minimum the projector can do to maximize lumens (the more you zoom in, the more lumens are lost).
Just my opinion, but I think 10' away is plenty for a 100" . I sit 12 to 13 feet away from mine.
Don't think the color of the wall the screen is on will matter much. Ceiling and adjoining walls will matter much more.
I am guessing(MM would know better) that a Silver Fire V2.5 3.0 screen might do quite well. Silver Fire is meant to combat ambient light, so it will look better with the lights on than the Maxx mudd.
If yo stay with the projector plan, you won't regret it. A 106" diagonal has so much more impact than a measley 50 or 60" TV, you won't believe it. If you go to the trouble to use indirect lighting, you will NOT BELIEVE how good it can look with what seems like a bright room.
Application method has been discussed many times, and It is now my bed time. Silver Fire MUST be sprayed, Maxx Mudd (one of the mixes, don't recall which) CAN be rolled, but spraying is still better.
Hope this helps.