I watched Lesnar vs. Valesquez in theaters and enjoyed it. It's pretty much the same as seeing a movie. Buy your ticket, find your theatre, pick your seat, and enjoy. I'll tell ya nothing beats a big screen with popcorn.
Also had the chance to meet Alan Belcher. He was there signing autographs since he lived in the area.
I plan on going back for 154.
EDIT: and I'm not sure about the prelims. Back during Lesnar/Valesquez they only showed them on Facebook.