Will my home theater projector do as good of a job if not better than an upscaling dvd player?

I have a 720p home theater projector with a pretty descent processor in it. It seems to upscale 480p images really well with no artifacts. I have read of the benefits an upconverting dvd player, but are these mostly for tvs and projectors with little or no upscaling support?

I remember reading that the reason home theater projectors cost more than their business projector counterparts is the video processing?

ACer ph530 home theater projector (1280×720)
I wouldn’t want to spend more than 50-70 on an upscaling.. anymore and I would jump on a Toshiba hd-dvd player and upscaler that they have on tigerdirect for 179.

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