Widescreen to 4:3?

Hi,
I've recently started to edit the first 3 years of my first son.
Shockingly we've got 23 tapes (all at 1 hr) so decided it was time to sort things out....
It's standard form I'm sure, but most of it seems to be the same....!!!!
As an example the first tape (1hr 4 mins) had about 40 mins of relatives pushing the pushchair...!!!
We cut the whole tape down to 2mins 38 secs..!!!!!
My question is that on some of the footage I set my Video Camera to the widescreen setting - and some of the footage taken was in the 4:3 standard setting... now when I edit and produce the new tape, some of the scenes look distorted.
Is there a way that I can import as widescreen and then render and export as 4:3 - so that there is no distortion on the finished tape..???
I'm using Pinnacle 8 and have an Athlon 2600 based PC.
Thanks.