It's not. You're stretching and squeezing the image using a wild combination of anamorphic factor and adjustments on the TV. The end result may be roughly the right aspect-ratio, but the illusion would probably be destroyed as soon as the TV is switched to another signal.
I might eventually put an anamorphic adjustment in MA3, but for now I just rely on the card's ability to output the proper aspect ratio. I've seen many abuses of the anamorphic factor adjustment.
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