Most upconverting players only do it via HDMI. There are a few that do it over component. No, it may not do upconversion automatically, you will likely have to at least set it up initially via the menus. VIA HDMI, it may be able to do a "check" that verifies what is the highest signal a particular set is capable of.
Personally, I'd skip Sony when it comes to less expensive progressive DVD players.