Bluray players + PAL TVs (Not HD) compatibility.

It's not computer related I know but I respect the advice given by a number of members of this board.

To save you some time a quick question. Do you need a Hi-Def TV for Bluray players. If yes don't bother reading the rest of this

Some background, My DVD player broke down last week and although I can get a cheap £17 player I was wondering if I may as well take the plunge and go for BluRay.

Money is tight at the moment so updating my ageing CRT TV won't be an option for several months. I'm not expecting miracles BTW but I know most (all?) players can upscale DVD's but will they downscale BR's on a "normal" TV?

If so I'd need one (cheap and cheerful) that can play DVDR's as well because my entire collection is copied to preserve the masters. NOTE: These are not pirates I own the originals. Any recommendations?

EDIT:

TV has 2 Euroscart rear connections (1 in use) and an unused Composite Video + L/R Audio on the front.

 

No One?

Ok, easier question.

Bluray player or DVD recorder?