Update 1 Changelog:
__________________________________

• Fixed an issue with excessive Steam client CPU usage
• Fixed the MSAA option
• Fixed the “picture-in-picture” graphical issue in the ‘film strip’ cutscenes at certain resolutions
• Adjusted Steam Cloud implementation
• Fixed an issue with the jump control in some situations when using keyboard and mouse
• Added the ability to disable black borders in aspect ratios other than 16:9

Please note that this last feature is unsupported.
Bayonetta was originally designed to a 16:9 aspect ratio only, and as such, certain UI elements will be distorted with this lock disabled; for example, the book that appears before boss fights may appear off-centre, etc.

To enable or disable this feature, quit Bayonetta, goto your game folder and in the "Apsect Unlock" folder are 2 registry files:

Double click on DisableAspectLock.reg to remove the black bar
Double click on EnableAspectLock.reg to re-enable the 16:9 lock