which has better PQ, movie theater or Blu-ray

[AbsentAbe]

I think it entirely depends on your home theater setup, and exactly what theater you go to and when you go. If you see a big box office movie the day it comes out, you should be getting the highest quality theater experience outside of home. If it's some movie that is playing on one screen about half the size of their biggest, the picture quality may not be as good, probably because it's not as important.
I've always had mixed experiences at the theater. The last big movie that I remember seeing in theater, Enchanted, had perfect picture quality! On Blu-ray it is still amazingly clear, but it is different. The look of film versus a perfectly clean BD image give different outputs. Maybe it's just that my 37" inch monitor isn't large enough, but I wish I could see both side by side so I could examine each of them individually to compare the differences.