Well, if you record as proper 16:9, then a DVD player will play it back with wide bars on tv. Personally, I like to see all the picture, and if that means I have to have black bars on the top and bottom to do so, then so be it.
If people don't like it, they can use the ZOOM function of the DVD player to make it fullscreen. Assuming they have a good players, as I know some of the crap cheapies don't have very good zoom functions. My Toshiba works well, I usually zoom in halfway on a lot of movies on my bedroom tv, cutting of some of the sides, but still partially widescreen.
So, basically, if you want it widescreen, go for it.
This is one of those instances where you need to remember you do the hobby for yourself, so whatever makes you happy. Pick what you like better.