When I got my upconverting DVD player (Toshiba SD-5980, not even particularly highly rated at Secrets), I was astonished at the PQ (on Panasonic AE700U). So much so that it is hard to tell the difference between a good anamorphic DVD from HD on Comcast. Since OTA HD is supposed to be better than HD on cable, I can't say it is as good as HD, but it sure is close. As an aside, the PQ is definitely better to my eyes when I use the DVD player's 720p output than when using the 480p output, where presumably the projector does the upscaling.
Seeing as I am fairly easy to please, why get the Oppo? SACD and DVD-A is the major reason, and if the price point is as nice as for previous Oppo products, I can see for myself whether I can tell the difference between a middling DVD player and one that is rated to be among the best for PQ.