Here's a quick example of a "proper" upscale. I did this in 5 minutes by modifying my TPM upscale script. It is not fully optimised for the source. It is a somewhat complicated script, but it basically uses eedi2 and QTGMC for deinterlacing, then upscales by a factor of 4 using spline36resize, then downscales to the output resolution via ResampleHQ. There's some noise in this frame for some reason, it may be a bad DVD rip I don't know I can't be bothered re-ripping the DVD right now, and it's based on the NTSC disc.

http://screenshotcomparison.com/comparison/122056

Yours has more micro detail, but also a lot more noise overall.