You change the AR in settings or when preprocessing your video. You might find some hints here
As for the filter - it seems you have to change the settings of the clip itself as you didn't make it in 720x480 (I suppose, or it's shrinked, whatever).
Just go to the first frame of the overlaid stuff, click on the event pan/crop button (should be on its own envelope/rectangle) and adjust it there so it fits whole. Alternatively, you can turn off keeping AR in clip's properties (it will stretch to the whole picture) or in whole project - the latter is not good, though ;x
Btw, the bars over and under your video are not good too, unless you use more sources ;x