If you are not bothered about the way this video looks in a regular TV, and since you're planning to put it on in internet, why don't you simply crop the image?
It's extremely fast, you don't care if the image is something like 656x540 (instead of the regular PAL/NTSC 720/704x576/480 framesize) and the image to be seen is anyway the one you filmed (except for really pro gear, all the camcorders actually display the overscan image in the control monitor) - I mean if you used the control monitor to frame the subject, the image you have seen and used to frame the subject, ie zoom, pan etc., is actually the one you'll get after cropping.
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Born in the USB (not USA)
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