Matt,

> I think the producer/director/whoever has different concerns depending on
> the outlet.

Probably.
> 
>   I would think that most people don't want to commit into a theatre for
> 2.5+ hours.

True. And the theatrical version of LOTR/FOTR is 3 hours 
(178 minutes + trailers) - the "extended" version on DVD 
will be 3.5 hours.

> ...And the cokes just get bigger and bigger

Sodas with caffeine are a diuretic - make you have to pee more

> At home, I can watch a bit at a time, pause when I want, etc.  I'd be much
> more willing to sit through a longer story.

Or an epic!
 
> I wonder if the theaters have a "preferred" or forced limit on length for
> profit margins/crowd turnover?

They gotta make money! 

> Matt 
> 

-Ben

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