I've got the latest version and the interface is identical. I run an Asus 22" monitor in 1650x1050 native and whilst there is a small amount of stretch in the image it is not that bad to look at.
Shots from the 16:9 ratio:
Shots from the 4:3:
My biggest issue was coming from a CRT to an LCD and noticing the colour gradient shading differences. I noticed the distinct lines between the colour gradients and even though I've tuned it and gotten used to it I still prefer the CRT image to the LCD in this regard.