I don't offhand know the answer to the more tech question; the info is at
the office, and I always get them confused in my head. I'm fairly sure it's
option c, though.
RE: composition...the monitor on which the director and DP can watch and
see what the camera sees has on it demarkations to show the regular aspect
ratio, as well as the widescreen view. Which pretty much allows them to
compose for both, for the most part.
jms