The only way this type of conversion would be useful would be if you are using some advanced upconversion process that is of significantly higher quality than your player or monitor is capable of doing, such as Super UpConversion (SUC). But even SUC leaves you with a 960p image which has to itself be rescaled to 720p or 1080p, so I'm not sure if there would be any noticeable difference in quality to most viewers.
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