Edit: I also use a square monitor which brings up another question, if I get a widescreen monitor am I able to record widescreen?
The aspect ratio of the recording ultimately depends on the resolution you set Blockland to. If you use windowed mode and set the game to a wide resolution, it'll record like that on most programs like Fraps or whatnot.
To answer your main question, if you don't include shaders Blockland doesn't really have very high requirements at all. I couldn't tell you much about Nvidia cards, but I have an AMD Radeon HD 6870 (Which is now 4 years old), and it runs Blockland quite fabulously even when recording. An equivalent new card only costs like $80. The CPU and RAM of your computer isn't super relevant, as Blockland's main demand is on the video card. Virtually any CPU that is in the same tier as your video card will work, and 4GB of RAM is more than you'd ever need playing Blockland by itself.