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BEST FIT – This setting re-sizes the video or
graphics input signal to “best fit” the output resolution
while maintaining the aspect ratio of the input signal.
For example, a composite video signal (4:3 aspect
ratio) will “best fit” to the top and bottom of a
widescreen output image, resulting in black pillars on
either side.
LETTERBOX – This setting compresses the top and
bottom edges of the input signal, but fills the width of
the screen. For example, to preserve a widescreen
film image on a 4:3 display. When not using a 4:3
monitor, this mode is identical to Best Fit
6.7.2
Master Connection Settings
The Master Connection (HDMI, DGKat, PC or SDI) is usually set to the main
output display so that the optimal resolution for that display can be obtained. By
setting the output resolution to Native, the VP-771 is triggered to read the EDID of
the main display and change the output resolution value according to the native
resolution of the display.
Note that when the output resolution is set to Native:

Selecting SDI as the Master Connection results in an output resolution of
720p @60

If SDI is selected as the Master Connection, hot plugging the HDMI/DGKat
output will not change the output resolution

If HDMI/DGKat is selected as the Master Connection, and a new display is
connected to the Master Connection output (hot plug), the VP-771
automatically reads the EDID of that display and updates the output
resolution accordingly

If it is not supported by the selected Master Connection, the system searches
for the best supported resolution. If the search fails (for example, if the master
connection is disconnected or EDID is unreadable), the resolution will default
to XGA
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VP-771 - The OSD Menu