Digicam was originally made for computer screen/monitor (there was not enough resolution for printing), that's why most digicams use 4:3 ratio. Coolpix 5700 is one of few that can change format ratio.
Anyway, if you are intending to print your results, without cropping (crop using your viewfinder), you'd better use 3:2 as most print sizes are 3:2. My cameras do not have the luxury to change format ratio, so I switch cameras when I want to change format ratio
Two days ago I shot at a studio, and I find much easier to use "more boxy" format, 4:3 would be much easier to use. With 3:2 it was very hard to to include several people in the picture without getting the outside of the background curtain included.