Edit your command line shortcut adding '-developer' (so it will look like 'maxpayne.exe -developer')
Select a resolution of your choosing.
After loading a level, press F12 to bring up the console. Enter the following command:
MaxPayne_GameMode->GM_ChangeFOV(1.2,0);
Press F12 to close developer messages, and console.
You'll have to do this every time a level is loaded, and the aspect ratio is quite a bit off (stretched horizontally)