How do I make professional quality SD 480p video?

Please read all the way through. I run a local small town TV station, and the free cable channel provided to us is off course only Standard Definition. I render the HQ stuff for youtube, and then I size it down to 480p to be played on our TV station. It looks horrible though. Not just grainy but also has a slight... show more Please read all the way through. I run a local small town TV station, and the free cable channel provided to us is off course only Standard Definition. I render the HQ stuff for youtube, and then I size it down to 480p to be played on our TV station. It looks horrible though. Not just grainy but also has a slight double vision.
Is there a way to render my 1080p stuff to look better in 480p? I know most people will say no, but we use non-profit downloads from pegmedia.org, and their 480p stuff looks a lot better.
My render software is Sony Vegas 12. I render my 480p video using "NTSC DV Widescreen at 29.97fps" 32-bit floating point, Best rendring quality, Motion Blur Gaussian, No deinterlacing
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