Black levels seems to be one of the main reasons people prefer movies at home. But I actually rather have a greyish picture with higher FPS than a perfect black picture with low FPS. The stuttering in movies when i go to the cinema takes me out of the immersive experience no matter if the screen is larger than life. The stuttering also make it more tiresome for me to watch, like my brain need to work harder in order to create a moving image illusion in my head.
A home projector with higher frame rates in a completely blacked out room will probably be the ideal movie watching set up. But very few movies is shown in cinema with higher frame rates and many people do not like the smoothed out picture it provides (making very few movie creators going for it) . And for other usage like gaming the response time of the tv still wins.
One of the main reason I prefer watching movies at home is because all the picture settings, sound volume, screen distance and company is of my choosing. While at the cinema I'm left at the mercy of that setup.
And it really bothers me that the exit signs light shines. There is a very valid reason for them to, but it bothers me while watching a movie.
Edit, spelling and clarification.
