The worst thing you can do to a video is compressing it again. By doing so, you take a video that already misses data, and remove additional data from it. What you'll get is called generation loss and in most cases it won't look good.
For example, your video could go from this:
To this (exaggerated):
If you burn a video to a Video DVD (i.e. one that runs in a DVD player), and it's not yet encoded as MPEG-2 (it most likely isn't), you will encode it again. This means that the video itself will probably look worse than the original. Also, DVDs have restrictions in terms of video dimensions. You'll therefore probably need to re-scale your video so that it fits. This is also not very beneficial to the quality.
Therefore: Don't re-encode unless you have to.
TVs are different from computer monitors in terms of image adjustment. Computer monitors should only show exactly what they receive as input whereas TVs may apply color and contrast correction to the signals they receive. This might be called "True Color" or some other marketing name for generally just something that makes the picture "look better".
Sometimes, they might try to reduce blocking artifacts, sharpen edges, increase contrast and saturation, et cetera. In some cases, these optimizations will make a video look better, even when you blow it up full screen.
Other factors include the type of TV. If it's an analogue CRT TV, the quality will not look as bad as with digital Plasma or LED TVs, as they will better reproduce spatial details.
Therefore, I would assume that your video will look a bit better on a recent TV – probably even better if this TV has certain enhancement technologies enabled. I would however not be too sure of this. It heavily depends on the type of content you have and your viewing setup (e.g. distance from your TV, ambient light, etc.)