Just some extra info, -
Jim and Don's 12-perf system was known as the "Horizon-12", the company was Imagination FX out of Burbank,Ca. I was FX supervising there for a short time and the company was in a slow death spiral in 1999.
Spent a lot of time asking questions in the tech dept, handled one of the 12-perf movements - what a jewel of mechanical engineering! They did have a optical printers for the format and I think they were building a scanner. They were counting on sales to Events and Theme parks...well...not so much! Sadly, I never got to see a projected image- I was told it was impressive! -Sort of 70mm in Imax-y resolution.