Looking at the specs from the SHARP website, you have a component input.
I don't know if it is progressive scan enabled and can see no reference as to whether it is.
For me, THIS PLAYER HERE offers great PQ from component (in prog-scan), so it should give you great results too.
The audio side of the Pioneer (if you have an AV amp connected), is also fantastic. It plays DVD-A / SACD very well, normal audio CD's sound good aswell (obviously not as good as a dedicated CD player, but HEY it's a DVD player first and foremost). DIVX is supported, and it's multiregion from the off.
Have a look and a think !!
PS, it's also cheaper than your budget so you can buy a good quality component lead with the money saved.... ....