make sure your device aspect ratio is correct... after you change your values it should automatically change it from 1.333 to 4.000, but if it's not then you still have it trying to maintain some kind of ratio somewhere.

when i rendered a 1920X480 i didn't get a squashed sphere with that value (of 4), but changing it back to the default setting of 1.333 as the device aspect ratio gave me the squashed sphere.