void get_camera_matrix(MATRIX *m, fixed x, y, z, xfront, yfront, zfront, fixed xup, yup, zup, fov, aspect);
The fov parameter specifies the field of view (ie. width of the camera focus) in binary, 256 degrees to the circle format. For typical projections, a field of view in the region 32-48 will work well. 64 (90°) applies no extra scaling - so something which is one unit away from the viewer will be directly scaled to the viewport. A bigger FOV moves you closer to the viewing plane, so more objects will appear. A smaller FOV moves you away from the viewing plane, which means you see a smaller part of the world.
Finally, the aspect ratio is used to scale the Y dimensions of the image relative to the X axis, so you can use it to adjust the proportions of the output image (set it to 1 for no scaling - but keep in mind that the projection also performs scaling according to the viewport size). Typically, you will pass (float)w/(float)h, where w and h are the parameters you passed to set_projection_viewport.
Note that versions prior to 4.1.0 multiplied this aspect ratio by 4/3.