The game cuts off top and bottom of the view when using widescreen resolutions.
You have 2 choices... switch to a 4:3 resolution, such as 1024x768 or accept that you just can't quite see as much vertically.
I chose the latter, running at 1680x1050 and it doesn't bother me, I alter the numpad 8 view so I can press and check the guages loadouts etc.