Opinions on Blu-ray with a 480p DLP projector?

I own and love an Optoma H31 DLP projector which I would like to keep in my system using a 92" diagonal screen. Has anyone else on the 'gon that still uses a 480p projector tried feeding theirs with a Blu-ray player?

I understand the resolution is limited to roughly DVD quality on my Optoma, but was curious if you've tried a Blu-ray on your 480p projector did you notice an improvement in overall contrast, color saturation, shadow detail, etc. compared to regular DVD?

I'm wondering if it's worth moving to Blu-ray if I'm planning on keeping my projector for awhile..