With every passing day, I see more and more movie fans say that they don't go to the movie theater anymore, because their home theater system is just as good, or better. I say: bull pucky. Unless you're uber-rich and have your own personal theater with a huge, perfect screen, stadium seating, and perfect surround sound, it's just not the same. Comparable maybe -- but you're still giving up a lot of the experience.
Going to the movie theater may have its downfalls (ringing cell phones, armrest hogs, screaming kids), but it also has its perks -- it can be a big, fun, communal experience. Popcorn. Laughter. And just sometimes, the armrests can rise for back-of-the-theater canoodling.
Still, if you have a great home theater system, or even an old television that you love to watch movies on, I say make it as close to the real thing as possible. It's not hard, it doesn't have to be expensive, and it just might make your screening room the place to see movies.