You can burn widescreen dvd format, just specify that in a sequence, then drop your sequence in to nest it.
do a 720×480 sequence when you create it set the pixel aspect ratio to wide screen; you might find a preset that works this out. Technically 720×480 is slightly wide, but the widescreen version of this is 853×480 and reads in players as widescreen aspect 720×480. Once you create the new sequence, nest your main edit, then right click on the clip in the new sequence and select Scale to frame size. This will get you down to dvd in a hurry. Now export the sequence to something. I usually do a full format export or at least proresLT. Then I send the sequence to encore, and encode my transcodes on my own. You can do it in Adobe media encoder. Take your full format output, and have it code to MPEG2DVD, ambit max VBR 1 pass and drop it in a folder, using Dolby as your audio. This should create 2 files. In encore, if you sent straight from premiere, you’ll have assets to transcode. Once your MPEG2DVD is encoded, the two files should work as the transcode, so just right click the asset (premiere sequence), go to locate transcode, select dvd, and pick the first file. It should ask you for the second as well. Now you can set that as first play, and burn the disc or disc image in encore. At 9 mb max for video, your video is the highest dvd quality and widescreen.