I've tried to duplicate the problem you're seeing on my MBP and it seems to work fine, either with TERM=xterm-color or TERM=vt100. In either case I use :vsp to get a vertical split, and then the following key combo to adjust the width:
Ctrl-w then Shift-< or Shift->
Here's the full output of "stty -a" to compare to your settings:
speed 9600 baud; 24 rows; 80 columns;
lflags: icanon isig iexten echo echoe -echok echoke -echonl echoctl
-echoprt -altwerase -noflsh -tostop -flusho pendin -nokerninfo
-extproc
iflags: -istrip icrnl -inlcr -igncr ixon -ixoff ixany imaxbel -ignbrk
brkint -inpck -ignpar -parmrk
oflags: opost onlcr -oxtabs -onocr -onlret
cflags: cread cs8 -parenb -parodd hupcl -clocal -cstopb -crtscts -dsrflow
-dtrflow -mdmbuf
cchars: discard = ^O; dsusp = ^Y; eof = ^D; eol = <undef>;
eol2 = <undef>; erase = ^?; intr = ^C; kill = ^U; lnext = ^V;
min = 1; quit = ^\; reprint = ^R; start = ^Q; status = ^T;
stop = ^S; susp = ^Z; time = 0; werase = ^W;