This falls into the middle ground between "impossible" and "technically possible but super pointless."
4:3 minidv (with the exception of some material shot on the dvx100, xl1, gl2, any camera with 24p, 30p, or "frame mode," or a telecine from 16mm or something) is interlaced. What this basically means is that even though the footage is technically 720X480 pixels encoded at 29.97fps, it's REALLY 720X240 pixels at 59.94fps--because every other line of pixels is 1/60th of a second ahead of the rest. This sounds confusing and stupid because it is, but basically the video looks like this:
http://en.wikipedia.org/wiki/File:In...car_wheel).jpg
Look in particular at the wheels.
The way tvs are designed, though, interlacing is invisible on playback (this isn't technically true but for the sake of this discussion it is). When you scale up to "true" 16:9 on a computer for either anamorphic dvd or like blu-ray without proper de-interlacing, you're stretching the interlacing out in a way where it is visible on tv (when you rescale it it's no longer every other pixel so the tv interprets it wrong), so first you have to de-interlace and then re-interlace your footage to do a proper conversion. If you're like Lars von Trier and send Dancer in the Dark to a professional post house, this is trivial: a post house can easily convert the footage to 24 de-interlaced frames per second, crop it, scale it up (slightly) and output it as 24fps widescreen on either DVD or by printing it on film for exhibition.
You can do this, too (other than outputting on film, of course), on your computer, with a few hundred dollars worth of software--and with reasonably comparable results to what a professional house does (plus you can choose either "cinematic" 24fps or to retain your 60fps original just with a bit more interpolated resolution)--except it will take FOREVER. Also, it doesn't look very impressive, just barely better than the original material except it's framed correctly.
The flip side is, a good television will do this automatically and with only slightly worse results if you burn a 4:3 DVD and hit the "aspect ratio" or "zoom" button. Of course, not all tvs will do this and you can't crop it yourself shot-by-shot this way. But depending on what dvd player you're using and what aspect ratio options your tv has, this can look pretty good, basically indistinguishable from having it done professionally.
If your footage is from 16mm, which was commonly output to minidv for cheap old telecines, and you still have the original film, you can pay for an incredibly expensive 2k telecine and crop to taste for 1080p output--but I figure this isn't that kind of situation.