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Nonsense. 1440p to 4K downscaled to 1080p will look miles better than 720p to 900p upscaled to 1080p. Maybe if you still have a 720p tv it won't make much of a difference. Still down scaling will add much nicer anti aliasing.

Actually I am still interested in the XBox One S if it can downscale 4K UHD blu-ray to full RGB 1080p. Normal blu-ray uses 4:2:0 chroma subsampling, which means color resolution is only at 960x540. Plus it only uses 220 shades per color (16-235).
4K UHD discs are still 4:2:0 chroma subsampled, yet now color resolution is at 1920x1080 with closer to a thousand shades per color. If it can properly downscale that to a full 256 shade 1920x1080 RGB image, my trusty 1080p projector will look better than it ever has with less compression artifacts as well. 1080p equipment is not obsolete, video has never taken full advantage of it.

That would be worth an early investment in an obsolete game machine for me. Will need a second UHD player anyway when 4K projectors become affordable.