Amid similar hoopla, I attended the premiere of Welles' early 1940's documentary It's All True. It was fascinating as an historic artifact but not very entertaining. It wasn't a film I'd want to sit through twice. It may be the same with this rediscovery. One and done.

I saw the re-release of Shane in the 1960s and the first thing I noticed was the narrowness of the screen.

As for your question, theatrical films were never intended for viewing on a TV screen. So, the integrity of the film is already compromised. But given a choice, no wide screen.