Downconverting's not the issue with older units (like mine) ... it's upconverting. I don't know that it can properly display anamorphically .... I've never seen a control option to switch it from one to the other ... though I also haven't looked too hard, since I don't have a widescreen display. Hmmm, I'll have to dig out the manual.
But, yeah, being a laserdisc/DVD combo, rest assured it was one of the first units ever manufactured.