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I believe Cinema Craft, Sony, Sonic Solutions and NetBlender have MVC codecs, but I don't know anything about them, other than they're unlikely to be free...
It did occur that if you can scale down from a higher resolution the smoothing effect of a scaler like Lanczos might help rather than hinder.
Another option would be to letter-box it or crop in some other way.
Anyway, rather you than me... good luck!
P.S. I'd either buy another video card or see what it gives you when plugged into a TV's HDMI input. Otherwise get some hacked drivers, which may well do that mode. (Tell me exactly what your card is and I'll see what I an do.)
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