I still feel the example of the actual aired HD version of STNG from TATV is all you need to make a decision on if the 16:9 format is for you...it seems to work.
The problem is TATV wanted a 16x9 Ten Forward shot and had 178 episodes to choose from. When redoing a given episode the producers only have the existing shot to use.
I have no doubt that in 178 episodes the producers could find one shot where the available material cropped from either side combined with the ability to crop from the top and bottom enabled the producers to create a decent looking 16x9 framing. It's possible that the majority of the shots would work. It's even possible that 95% of the filmed material is usable in 16x9.
But even at 95%, that still means 2 minutes of footage per episode will not work or will look very poor. You may be willing to accept a bad 2 minutes in order to have 16x9 for the entire episode. Personally, I'd rather have 4x3 and not have those 2 minutes where it's obvious that a poor crop occurred.