Journal looks good. Can see the whole thing.
Then 1280x1024 is small enough it's not an issue. It's possible that it happens for resolutions that uses widescreen after 1600x1200 as that's the highest 4:3 that I know of. I recall it happened to my 2006 22" monitor with 1680x1050. WSGF Clive Barker's Undying
I recall something about the weapons too but I'm not sure exactly what was suppose to happen, just that it wasn't working properly in widescreen.
PixelPerfect@Did you change both numbers for the FOV? It says in the link you need to change two lines, desired and default. Maybe then something happens.
I use D3D and set it to 1280x1024 32 bit color and let my video card auto-scaling take over. Looks fine.
I followed your lead and am using 1280x1024 as well. Using 1080p produced the nasty journal cut off, so it wasn't feasible. Sticking with 90 FOV. This combined with the (modest) texture update makes a game that's already stood the test of time well (it's honestly one of the better looking games from the aughties) even better. This is my first time playing the game and I'm seriously impressed with the detail and imagination the devs were able to cram into the Unreal tech at the time.