This is neat! Similar technology as what people did with the JFK shooting footage. I have dabbled in similar stuff with my old VHS cassettes when I used to restore my tapes on my computer - I had apps in VirtualDub that allowed me to somewhat make a 4:3 video appear 16:9 without cropping the video at-all! It would work out a few frames ahead where things will be and when they were previously and calculate the data to make a 16:9 video from a 4:3.
Impressive huh? I only managed to do this with a 4 second segment as it was so difficult to do... :/