Read all about this nasty aspect ratio stuff from "A Quick Guide to Digital Video Resolution and Aspect Ratio Conversions":
http://www.iki.fi/znark/video/conversion/
"Not a single one of the commonly used digital video resolutions exactly represents the actual 4:3 or 16:9 image frame.
Shocking, isn't it? 768×576, 720×576, 704×576, 720×480, 704×480, 640×480... none of them is exactly 4:3 or 16:9; not even the ones you may conventionally think as "square-pixel" resolutions."
"720x540 is an oddball compromise format. Better to avoid unless you really know what you are doing. [...] the original interlaced field structure (if any) will go haywire as you mess around scaling in the vertical direction."
http://www.uwasa.fi/~f76998/video/conversion/#4.7
So:
To convert rectangular pixel PAL 720x576 DV to square pixel image you should scale to 788x576, then optionally crop it with 10 pixels from both sides so that the final image is 768x576.
To convert rectangular pixel NTSC 720x480 DV to square pixel image you should scale to 656x480, then optionally crop it with 8 pixels from both sides so that the final image is 640x480.
And to the other direction:
To convert a 4:3 (2048x1536, 768x576 etc) square pixel still image to PAL 720x576 rectangular pixel video, you should resample to 702x576, then pad with 9 black pixels to the sides so that the final image is 720x576.
To convert a 4:3 (2048x1536, 640x480 etc) square pixel still image to NTSC 720x480 rectangular pixel video, you should resample to 702x480, then pad with 9 black pixels to the sides so that the final image is 720x480.