I read an interesting bit of information in today's Wall Street Journal on page B5. Walter Mossberg, the technical reviewer for the newspaper got a question in his Mossberg's Mailbox. A reader asked about what type of new high definition DVD player they should get.
He reported that Blu-Ray has appeared to won over the studios but that they should consider a upverting DVD player. A quote from the column, "I have found that... "upscaling" DVD players are effective at making most regular DVDs look better on high-definition TV sets. " He goes on to say that brand name players can be found for as low as $45.
So he does not exactly say that the picture produced is just about the same but the test I did they looked very close in quality to each other.