For me, I have a dedicated Sony upconvert DVD player (DVP-NS75H). Yes, I do sometimes watch oldray standard DVDs. It does a beautiful job upconverting and looks acceptable on the 52-inch 1080p Sharp Aquos.
I do not use the Sony BDP-S300 to upconvert oldray DVDs. It doesn't do as good a job as the DVP-NS75H. I use the S300 only for BDs.
I don't have a PS3 or a Wii --- yet. But I hope to get both in the near future.