I think its a little of both for me. As a default, I prefer to watch movies at home because of the set up I have, but for some movies, I will brave the cinema to watch it - eg, it's a pretty cool feeling to watch Iron Man or Prince of Persia in a packed cinema, adds to the atmosphere. For other movies, they can be watched at 8-9pm on weekdays and there will hardly be a soul at the cinema (of course I stay 3mins walk from George Street cinemas, so I abuse it like hell, heh).
PS: 5FDP, cool new avatar and sig there. I always liked Scorpion better than Sub-Zero (maybe just like I prefer T'Cracker and Skywarp to SS).