Will HD Broadcasts be OK on Standard Size large screen HD ready set?

[hershon]

Appologize for beating a dead horse, but apparently there are some (albeit off the market) standard size large screen TV's that are HD ready such as the 50" Mitsubishi HD Upgradeable VS-50111 pictured below. What I'm totally confused about, and maybe this is what people have been trying to tell me is: 1. If a TV show is broadcast on HD (say via my cable company if it makes the slightest difference) will this fill this type of TV screen with the full HD effect and no distortion or do I in fact need a "widescreen" setup, 2. If I play a nonletter box DVD will the movie have the full HD effect without distortion on this type of TV? Any help is appreciated and appologize if I've exacerbated your patience.