I know what you mean because I'd rather they were standard size as well, but I think that's a battle that has been, largely, lost. For whatever reason - and, like you, I suspect it is down to cost and marketing - almost all the translated European comics are being published in a smaller format.
Thinking about it, almost all the First Second books are tiny - much smaller than even the Cinebook ones - and the NBM Dungeon series has settled on a similar size to those we're getting in the UK. The recent Fantagraphics Tardi books (highly recommended btw) are also smaller than a traditional BD, albeit not by much. In fact the biggest 'cross-over' success of the past few years must be Satrapi's Persepolis, which was much reduced from the original.
In most cases I think it is a compromise I can live with if the choice is reduced size or nothing. Saying that, the paperback double-volume of Persepolis is pretty poor. The reduced format, in that case, is a step too far, even for her more expressive and simplified art.
Ideally the English language market would support the books being as close to the original format but it isn't and I suspect it never will be. Interestingly, the one area that publishers can publish the original size in is the Children's market. Perhaps because there's already a history there of over-sized picture books?
as heinous as widescreen movies presented in pan and scan or monochrome movies/TV colourised
I'd argue (well, suggest maybe; I don't feel that strongly about it!) that a more apt comparison would be the viewing of a film on a home television rather than in the cinema. The content is the same in either case, it's the delivery which has changed and which perhaps affects the experience. I feel pan-and-scan/colourising is more akin to vandalisation than the reduction in size, no matter how unfortunate that may be to the book.
On that note, it is Cinebook's ham-fisted censorship that really gets my goat. I don't know if anyone has seen the latest Aldebaran/Betelgeuse book (just out) but the redrawn parts really draw attention to themselves. Oddly, there seems to be no problem with swearing - the 'f' word appeared in one recent book (Insiders I think).
not how the artist intended
There's a disclaimer inside the Cinebook volumes about the censorship, and how it is with full consent of the author. I wonder what the author's feeling would be about the format? Does Garen Ewing still visit this board? It'd be interesting to hear the thoughts of a creator on this - I imagine in three or four years time there'll be a collected 'Rainbow Orchid' and, if current form is followed, it'll be in the smaller size.
He was delighted that colour was added to the Laurel and Hardy films he made: he only made them in black and white because he couldn't afford to make them in colour, and that is how he would have wanted them if he could!
Perhaps akin to Herge's recasting (and colouring) the early albums? Of course one can argue this many ways - the books were redrawn as well, perhaps to take advantage of the added colour.
Sorry for the long-winded reply. It is either this or writing a self-appraisal...!