In the MENU select CAMERA SETUP and then ASPECT RATIO....select SQUEEZE mode...to start shooting in the 'IN-camera squeeze mode'. It's that simple.
You shoot in in-camera squeeze mode or letterbox mode, if u want to output your movie on a widescreen tv i.e with 16:9 aspect ratio. Select NORMAL instead, if u have a 4:3 TV.
I shoot in both "squeeze mode & use anamorphic adapters". I use FCP. I capture 16:9. I then output through compressor to SP3. In SP3 I choose "16:9" display and force to "Letterbox" on 4:3.
This way, if you play your production back on a widescreen TV, it's going to be widescreen. If you play it back on a 4:3 TV, it's letterboxed. Looks great both ways.