Just because your TV is only 720p doesn't mean the Oppo won't outgun the garbage from Wally World.
It will still produce a very good picture with DVDs. Of course, if it where me, I would just get a PS3. The PS3 scored just under the newest Oppo DVD upscaling player in terms of DVD playback quality. To top it off, they are the same price, the PS3 plays Blu-ray movies, games, and can function as a media hub/center. You also can just waltz into just about any store and get one.