The monitor is not displaying 16x9 HD but the downconverted NTSC signal which is in the same format (16x9) as the original signal. If you are tuning an HD signal and watch the composite video output on a 4x3 monitor, the people will be tall and skinny because the signal is still in the 16x9 format. Using a 16x9 display, even if it is not HD, will maintain the correct geometry of the picture. These monitors also allow you to view a 4x3 picture in the center or zoom to display a Letterbox / non-anamorphic signal correctly.
Search ebay for "7" LCD" and look for brands like Fareinheit. These are monitors designed for Mobile and Car installations for viewing DVDs on the road. Mine was a Tview or FSD monitor. The auctions usually go for about $325.
"Can I please just watch this the way it was meant to be seen?"