It looks to me like preview is been set to wireframe for your composition and it also looks like your composition is set to square pixels.
The footage seems to be interpreted correctly. The codec appears to be animation, and the pixel aspect ratio appears to be correct. The only thing that would explain the wide version in your comp is that the comp is set to square pixels.
Setting the preview to wireframe explains the, well, wireframe preview.
Ah, I found, in this article how to get out of wire frame.
Now I have to figure out the correct square pixel settings.
Is it in the preset drop down??? (Weird because up until today I never had to go through these steps.....)
The easiest thing to do is to drag your footage into the new composition icon at the bottom of the project panel. The second easiest thing to do is to use a preset. There's one for 14 40 x 10 80. You set wireframe preview at the bottom right of the composition window. That's the best I can do for now. I am replying with my iPhone.
I set up a new project and imported the footage again into the New Composition Icon.
For whatever reason it's still going into the Square Pixel Mode. And not giving me a 1440 x 1080 view. When I went into the comp settings and clicked on Presets I didn't see any that are specific 1440 x 1080. I found a HDV 1080 29.97. But that's making the view wider than 1440 . But even that doesn't do me much good in the Pixel Aspect Ratio settings,,,, (Yes I have a bit of a built in letterbox on top and bottom of my original footage which you are seeing in the below screen capoture.)
Again, not sure why simply dragging the footage into the New Composition icon doesn't do this automatically for me -- especially since this is a new project..... (Maybe there's a "project setting" I need to look into....????)
Realize you're reading this via Iphone. So I am patiently doing other things while I figure this out.....
I went ahead and restored my default AE prefrences and I think that fixed it!
I'll report back later.