Unfortunately not. We set the minimum resolution at 1024×768 (common for older monitors) and planned the UI layout accordingly. At just 720 pixels of height, things wouldn’t fit anymore. I just gave it a try, and the inventory screen is cut off at the bottom at that resolution.
Perhaps you could record at 1920×1080 (since that is the same aspect ratio) and downsample (or let youtube downsample for you)?