Ok! I went ahead and picked up the game after work. Just to get my feet wet again I played through the training campaign. During that time I took two screenshots, one @ 1600x1200 and one @ 1680x1050.
This is actually a good learning process for me as well. Learning to distinguish the different varieties widescreen form can take is an interesting process.
1600x1200
1680x1050
Comparing the two screenshots subjectively has led me to believe that yes, the game does implement genuine widescreen support. I base that conclusion on a couple things. The first thing is that the arm and gun (as seen from the 1st person perpective) maintains it's aspect ratio - there is no stretching or distorting of the image. Secondly, if you look to the right of the screen, near the bunker and mini-map you'll notice that genuinely more is added to the view and the bunker isn't fatter. Thirdly, if you look to the left you'll notice that the HUD retains its dimensions while more of the downed ship becomes viewable.
So there are my initial impressions. Hope they help. :D