There should be a recent thread on uprezzing on this forum.
When I did a cinema spot for the UK, they just needed standard def PAL, and we were prepared for it to look pretty bad, but when we tested it in a theatre, it looked much better than we thought. It didn't look like film, but it didn't look like crap. Of course, there was a lot of distracting action in the spot. Your mileage may vary.