Aces High II is already at a 90 degree field of view. In order to expand to use the 16:9 aspect ratio we would have to increase the field of view.
Bad thing about that is it causes a 'fish-bowl' effect on on the display. Other games default to using a 70 to 75 degree field of view for the 4:3 aspect ratio and then expand to 90 degree on a 16:9 aspect ratio.
Bottomline, there is no visual method available to us to get there from here, without creating a really ugly, and darn near unreadable display.