I always thought Seinfeld looked awful on TBS where they show them 16:9. Maybe a transfer that judiciously pick-and-chose how to do the shots could crop it better but I was not impressed by what I've seen so far.
In fact, I find a lot of 2.35:1 movies that get cropped to 1.85(or is it 1.79?) widescreen really distracting but I admit I'm in the minority of those that notice. Any time I point it out people think I'm crazy if they can even understand what I'm saying. Most people think full widescreen is OAR when watching widescreen material.