Agree, hitchfan....we will have 'black bars' for as long as we choose to view any film in their original aspect ratio, be it Academy ratio (1:37:1) or any of the various widescreen presentations.
One interesting note is that during the transition to widescreen, many theaters, yet to make the change, were allowed to show the film with the Academy ratio....which adds to the confusion as to the director's and cinematographer's artistic intent.
There is a colorful debate happening now over the soon to be released bluray of Shane. Originally filmed with Academy ratio, the studio presented it as a widescreen film in order to push the new 'bigger, wider' theater experience.
The recent Criterion bluray of On the Waterfront, sports three different aspect ratio presentations.