Vista - Windows Media Player 11 Aspect Ratio

Hello,

I am trying to change the aspect ratio for the video that is playing, but I
could not find anywhere how to do it. I tried with
"Tools-Options-Devices-Display-Horizontal Pixels per Vertical Pixels" with no
effect. Is there a way to do it?
If I remember properly, an older version of the player (6 or something)
allowed you to simply drag the sides to the desired size and aspect ratio,
beside entering as numbers.
To be mentioned the file that I am using is playing in a 4:3 format and is a
file from a camcorder JVC renamed from .MOD to .MPG to be able to watch it
(by the way, why Microsoft did not include a codec for these files,
considering that JVC and other hard drive camcorders are quite common now?),
and the file has been recorded in a 16:9 format.

Thank you for any suggestion,
Liviu