There is currently no way to play the game in full screen 16:9 (filling the screen entirely). And even if there was a way, it would probably look bad since it would stretch the screen and graphics too much, making everything look pretty shitty I would think. Just use the "nohero" version!
Yes, Storm Rider is a better game for sure. I also think Super Bikes 2 is more fun than 3, but that's just me. Cruis n Blast arcade version is not that important to me since it can be played in Switch emulators, even though it's not arcade perfect.