You can put Bluray on a DVD-R, but it must be played back on a bluray player. Only about 20 minutes. Your content is almost certainly too long. Doing this well requires shooting with the goal of DVD (and Bluray) delivery in mind.
Best DVD results, in an age of HD TVs, requires a decent upscaling player. Experiment with a couple short sections.
From a post on cow:
My comment:
Use an Encore Bluray project. Build to a bluray image so the size will fit on a DVD. My recollection is the same as Ricky's - about 20 minutes at whatever the rate was! I use imgburn to burn the BD image onto a DVD. A BD player will play the DVD as a BD. I have heard that some players will not handle this, and I have tested it on only one player.
And same thread from Patrick Simpson:
Very interesting. According the FCP article, the burned DVD has an "average bit rate of 14.7 Mbps and a max bit rate of 17 Mbps" due to the limitations of the DVD's red laser. I'm guessing I'd have to limit the data rate with Encore as well.