There are instructions on how to do this but they seem awfully application-specific, and the tools I use come with poor help files. Or none.

The original material is on an 8mm camcorder tape, in 16:9. Capturing device is an older Hauppage WinTV card, which can only capture video in 320x240.

I use Adobe Premiere 6.5 for capturing the video from the camcorder into short non-compressed AVI clips.

Then, I use AVI2MPG2 to encode the AVI files into appropriate format for my s/vcd project.

Finally, I author and burn the s/vcd with Ulead DVD Workshop.

My question is, at which point should I try and change the aspect ratio, and how do I do this efficiently? Personally I'd prefer to go with 16:9, but my wife feels our wedding video looks stretched in 16:9, so I will have to butcher the material to 4:3.

AVI2MPG2 for instance does not have a setting similar to TMPGEnc's "no margin (keep aspect ratio)", but it does have 1:1 VGA, 4:3 Display and 16:9 display - at the least.

Considering my process of capturing and encoding, at which point should, or CAN, I do the change of aspect ratio? Especially since I would like to end up having both 16:9 and 4:3 versions of the same video data.

Any tips on how to do this would be highly appreciated. Many encoders have two settings for aspect ratio, as well - one for the original video and another for the stream being created.