read yesterday about complaints regarding BioShock's method of generating widescreen, which seemed tantamount to cutting the top and bottom off the fullscreen image without actually adding to the field of view at all. An article on The Cult of Rapture website, entitled "The Truth About Widescreen", has addressed the issue in lieu of "fixing" it.
It states that the optimal mode for playing the game is in widescreen, the mode that 90% of 2K's development stations employed. Team members chose a widescreen field of view "that best reflected their intentions with respect to the way the world is perceived" and instead of cropping it for 4:3 displays, they "slightly extended the vertical FOV for standard def mode: we never wanted to have black bars on people's displays." In other words, the original widescreen mode lost nothing while the 4:3 mode was extended.
While that sounds like a "same difference" situation, 2K feels they made the right decision. If, however, you're still not pleased, the developer is looking into ways of allowing users to manually adjust the field of view. Alternatively, you can have your memory erased and play the game blissfully unaware of issues you wouldn't have noticed had someone not pointed them out to you.