If your DVD player has component outputs, I think they can up-sample (or something like that) to improve your resolution above the NTSC (old) standard. The interpolated resolution still isn't as high-def as true HD. It takes a next-generation HD player (i.e. blue-ray) to get true HD I think.
If your DVD player has old-fashoned outputs like S-video or cable, I'm pretty sure it's just streaching a true NTSC signal across a HD screen.
I could be wrong.