At this point, given the likelihood of a Criterion release, I'd wait myself if I were in the market for a DVD copy fo FAKE. Of course, there is still no confirmation of FAKE being added to Criterion's roster yet, but I can't imagine they'd make CONFIDENTIAL REPORT their first Welles title. The rest of Welles' films seem even more unlikely, given their current releases or rights situations. As for the aspect ratio question, I don't believe it's ever been answered definitively, though I'd take Criterion's statement of 1.66 as fairly reliable.
What else would they add to FAKE in terms of extras, though? I know there's an hour long docu on de Hory out there, and the trailer is an obvious inclusion, but I'm not sure what else they could stick on that would justify their more expensive price tag and be worthwhile, unless they add some more general material on Welles, instead of stuff related specifically to FAKE.