This tutorial will work with videos recorded in both 4:3 and 16:9.
Import your video into WMM and do whatever you wanna do in the editing phase, once you want to export it for youtube Widescreen use click "File" then "Save Movie File" click next on saving ot your computer and then enter the title of your project. On the next menu click the "show more choices button" if you don't already have the full view of WMM export choices. Click "other settings" then "Video for local playback (2.1 Mbps)." Click next and save your video.
It works out about 2MB per ten seconds on these settings so be prepeared to wait for the export time and the upload time to Youtube.