Screen Size and format

I'm looking for suggestions and recommendations on projector placement and screen format and size.

I've measured the distance from the center of the back wall and have discovered there's less distance than expected.

This is primarily for viewing films and serial television on DVD. Streaming when quality is up to par (I have Vudu). Xfinity Broadband in the house.

I'm looking at about 166" wall to wall, not accounting for the projector size, or the distance from the wall to the screen.

Accordingly, it looks like a maximum of about 150" from the front of the projector to the screen.

My questions are:

1) because the projector will be a ceiling mount and I have a raised ceiling, will this increase the throw distance appreciably?

2) Should I limit my screen size to the screen size on the Screen calculator?

3) Based on the projector I'm looking at, this would make the max screen sizes:
- 35" T x 82" W x 89" D for 2.35:1
- 46" T x 82" W x 94" D for 16:9

Ideally, I'd prefer a larger screen, especially if working in a 2.35:1 format. I'm looking at electric drop down. Are these the actual maximum limitations on the screen size?

I spoke with a rep at Projector Central who indicated the range for the screen sizes I could get for 16:9 were 59" - 120" -- he said he obtained this via a projecor calculator. I didn't see this anywhere on the calculator -- it only gives one screen size (which I understood to be the largest size avai.).

If true I could do 115" in 2.35:1 or a the equiv. size in 16:9 and watch film content letterboxed (but without masking).

Is letter boxing to 2.35 on a 16:9 screen a bad idea? (I'm looking at electrics so no masking).

I could also just lower screen to 2.35 Width and watch that way (but without lens memory that's kind of a pain).