OK, well all output setting still squish it because they do not scale the image (Adding a border if necessary). It appears to be 16x9 and in need of nothing more than letterboxing. Where can I find something that will cale it down with letterboxes?
Edit: I was using the commercial software trial instead of the freeware utility. For some reason, the freeware is more capable than the commercial software.

Yes, that means I did get letterboxing added to my vid and I discovered that 16:9 can reference pixel aspect ratios as well as the entire screen (Otherwise, PAL could not be called "4:3"). I was still dissapointed with the resulting frame rate after WMP10's transcode to WMV so I found
a utility that could do it better. ALL videos synced from non-WMV formats seem to get the low frame rate regardless of quality settings in the sync setup. The image wuality through TMPGENC was OK, but I still would have preferred RAW/Uncompressed or WMV output to avoid a double-conversion.