If you then rely on your DVD player to turn in back into 277 lines again for display on a 4:3 TV, you lose a *LOT* of quality unless you have an exceptionally good player.
This is simply because it has to do a realtime resize, so can't use the best method.
So why go through two resizing steps (one good, one average) on a source that is resolutionally challenged to begin with, when you could display the original as is.
Now of course if you have a widescreen set or something similar you will be better off with the original 277 scaled up to animorphic, as we can do a better job than the realtime scaler in your player or TV.