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There is many good points here. And there is a variety of alternatives available.
A graphics card with either s-video or composite output is good. I only mention the broadcast equipment because I recall buying the stuff new 20 years ago for tens of thousands of dollars and now exactly the same stuff is worth a hundred bucks.
Personally I prefer center cut 16:9 on 4:3 even though the captioning may be cut off. Then again I prefer older programming on older sets. There were many older movies, television programs and series I never had time to watch in the 60's and 70's I can watch on line or off DVD. And all of it was 4:3 or close enough.
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