Darrin,
I think you don't understand how anamorphic works. It's
supposed to be stretched upward like that. DVD players, certain video monitors capable of displaying anamorphic and the FCP Canvas squeeze the image on the fly, so you really don't want to distort it again, unless your destination is a standard TV monitor that cannot scale the image to letterbox on the fly.
You mention that your destination is for the web. In this case, you do need to squeeze it when exporting the sequence to QT or Cleaner.
The article I wrote for kenstone.net is getting a bit old, but if you scroll to the bottom, you'll find some instructions for getting widescreen video into QT for the web.
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www.kenstone.net]
Basically, what you are going to need to do on exporting in QT is enter values for the width and height so the desired height is 9/16 of the desired width (to determine this value, multiply the width by 0.5625),
Example frame sizes using this ratio:
If you are exporting from the native DV-NTSC full-frame size of 720 x 480, set the output frame size to be 720 x 405.
A smaller 16:9 frame size would be 400 x 225, etc. You get the point.
By using the formula above, you can come up with your own values for smaller web widescreen aspect ratios.
The article explains how to export anamorpically squeezed footage using both QT and Cleaner. Hope this helps you understand what is really going on with anamorphic footage. Getting your head wrapped around it comes in handy for a lot of different widescreen situations and outputs.
Good Luck,
Kevin Monahan