Utilizing the two segments ripped by R2D2 (and provided in THIS thread), I have started experimenting with them. Here are a few shots, comparing the simple upscaled version (the "before") and the processed version (using NeatVideo to remove noise, and AviSynth with LimitedSharpenFaster for upscaling and sharpening):

http://img181.imageshack.us/img181/9598/tuskenasv8.png

http://img127.imageshack.us/img127/4795/tuskenbaf3.png

And here a few more comparisons:

Binary sunset (simple upscale)
Binary sunset (processed)

Luke sunset (simple upscale)
Luke sunset (processed)

Luke home (simple upscale)
Luke home (processed)

Luke on ground (simple upscale)
Luke on ground (processed)

Ben (simple upscale)
Ben (processed)

Luke & Ben (simple upscale)
Luke & Ben (processed)

I think turning these discs into anamorphic (while cleaning them up a little bit) might be very possible after all, although it's probably better to start with the NTSC-versions (even for an anamorphic PAL result), since they're not already (crudely) upscaled.

I'll try getting some MPEGs up later.