Just got off the phone with Oppo. The 971 definitely does not do upconversion via component, however the 970 DOES, straight from the horses mouth. That would be my choice.
216mhz DAC isn't entirely a selling point IMO, as some of the best players have DACs lower rated than that. It is isn't the DAC alone that gives you a good picture, it is the whole package; which mpeg decoder is used, which deinterlacer, etc... If you are just looking for 480p, I would spring for the Denon 1930CI personaly.