Should I move to wide screen for gaming?

I'm thinking about upgrading my 4:3 CRT to an LCD and need to decide whether to move to widescreen or not. I have no plans to watch movies on my pc, so widescreen is irrelevant there.

Could someone explain to me the pros/cons to widescreen gaming?

Are there any games out there which actually provide MORE viewing area with a widescreen than with a 4:3 format? My understanding is that you actually get LESS viewing area since the top and bottom of the 4:3 screen are cropped out.