I had an up converting DVD player, and on newer movies it did a pretty good
job of looking better. It produced some video noise on older DVD's. Star Wars III
and Cars looked nice, Godfather, not so much.
My current HD DVD player plays newer movies, V For Vendetta, Planet Earth series,
at a better quality than even Discovery HD through my Directv.
While in some cases an up converting DVD player is nice, it can't approach true HD.
A case where you
do get what you pay for.