triock: Depends on your GPU. ;)
For AMD - run AMD Catalyst Control Center > My Digital Flat Panels >Properties > Image Scaling >Enable GPU Scaling box > Maintain Aspect Ratio
For NVIDIA - run NVIDIA Control Panel > Display > Adjust desktop size and position > Scaling > Aspect Ratio
For Intel - run Intel Graphics and Media Control Panel > Display > General Settings > Scaling > Maintain Aspect Ratio
You can find your control panel/center by right-clicking anywhere on your desktop.
Thanks for the pointers! Unfortunately, for some reason my Nvidia Control Panel doesn't have the option for "adjust desktop size and position", only "adjust desktop color settings". There is a "resolution" page but no scaling/aspect ratio options.
Maybe a more recent version of the Control Panel.....
Thanks anyway though. Maybe I'll plug in a 4:3 VGA monitor and see what comes out.