Currently Being ModeratedJan 31, 2013 5:06 AM (in response to barang)
It can, but you need twice the frames as the ultimate frame rate to make the fields. How it will hold up with keyed material, you'll just have to find out.
Here is an interesting discussion of using Compressor for that purpose.
Try de-interlacing your original project, cutting in your keyed progressive clips and compare.