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For custom resolutions including widescreen, change $pref::Video::resolution = "800 600 32"; in client_pref.cs within the Preferences folder.
The first number corresponds to width, the second to height, and the last to color depth. For example, 720p would be "1280 720 32"
To enable VSync, change $pref::Video::disableVerticalSync = 1; to 0 in client_pref.cs