You may find that you can select your resolution and adjust the FOV to your preference (up to 100) via the ingame menu. If your desired resolution is not available, or if you want an FOV above 100 (recommended for 16:9 displays), keep reading. Otherwise, you can skip this section.
Go to <gameDir>\system. Open ut2004.ini. Find these lines:
FullscreenViewportX=xxxx
FullscreenViewportY=xxx
Change them to set your resolution.
Now open user.ini. Find these lines:
DesiredFOV=90.000000
DefaultFOV=90.000000
Change the values to set your FOV to your preference. I recommend 100 for 16:10 displays, and 105 for 16:9 displays. Unlike UT2003, the game will not revert high FOV values back to 100.
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You can get the HUD to scale just horizontally ... scaling the X component without changing the Y component.
In the ... UT2004.ini
Under the heading ... [WinDrv.WindowsClient]
Change the line ... ScaleHUDX=0.000000