You've got it.  To find the number of lines across the entire width of a standard aspect screen, you'd have to multiply the resolution by 1.33, so my example of 220 would be 293 lines across the entire screen, which sounds like your estimate of "nearly 300".  I think that 244 is a theoretical maximum within the VHS signal bandwidth.  Individual results will vary according to equipment, etc. 

I looked at the article just now and the information there is clearly wrong.  I don't have time to correct it right now, but someone should.