The new playing now is a very good next step for theater view. It really revamps the interface.
Having the rating at the bottom is an excellent choice. However, I personally use custom rating fields because several people store ratings within our media files. Please consider adding a custom rating configuration area. This could be as simple as substituting a custom field for [Rating] but could be more beneficial if it allowed multiple ratings to be displayed, too. [Ben's Rating] is what I use but we have a total of four custom ratings for our media. Theater view has plenty of space to show 4 rows of stars (horizontally) but standard view would be a little crowded, depending on monitor resolution since there is sizable text next to the stars.
Rating never really gets used because it wouldn't make sense and as media proceeds further toward house-wide, multi-user media systems, I think this would be a strong and effective effort going forward.