DISCLAIMER: I'm not sure I get the whole 2.35 setting on this thing... If it's just a zoom and ability to set memory for the zoom, then I think I get it. This is what I jsut did:
Ok, zoomed it way out for 2.35, and I think it still looks really good. With light control, I think a person could get away with whatever this this would be. It looks like it's running about a foot off either side, so... 111 + 24 = 135" wide, and I could pull that off if my screen was wider. It appears that the top stays stationary when zooming, FWIW.
Light spill appears to be minimal to negligible. I'm not seeing anything that I would identify as light spillage, but I'm not an experienced critic.
ETA: If I walk up to the screen, I can make small shadow puppets in the "black bars", but it's nothing significant. If I hold the instruction manual up, there is not enough light spill to read it. No better than sitting on the couch.
ETAA: The dark cave scenes in Iron Man look good. I'm watching in "Cinema2" mode.
ETAAA: Now I think I like Cinema3 better. Is seems just titch brighter. I should read the manual and see what the differences are supposed to be.