To me the most primal part of the movie experience is sound… funny that movies started out as being silent. I find I can often enjoy a radio play more than a movie. The sound in a movie not only carries the primary plot information but the way people inflect provides the critical emotion… imagine hamlet performed by an automated voice like Siri. The music also carry emotional content.
The next thing that one wants is to see is faces and facial expression. This is the other big emotional payoff in a movie. ( most would find a movie without any characters or people boring ) Thus the most critical thing is to have enough resolution to be able to read faces clearly. Seeing some environment helps understand the context the faces are in, but is much less important. My cats tend to find TV boring most of the time because it is just a sea of talking human heads . The moment it is different… like on the nature channel… they get more interested.(look at covers of magazines in a store… all head-shots)
This provides the bulk of what one needs to convey stories, which is why TV has been successful even with small black and white screens. Beyond that there are diminishing returns. Color is nice, most would agree, and in cases where one wants the first person exhilaration of jumping out of an airplane, added things like large field of view, surround sound, high resolution, 3D, high frame rates, wind generators, smell, holographic 3d immersion are a plus.
But for simple dialog and acted plays (like Rope) one simply needs to hear the sound clearly and read the faces.