I "broke down" and got the PS3 and Move bundle as my gift to myself. "Yay me"

. Now I have to try and be good and not play it till Christmas. I'm really not thinking I will make it all the way there.
I don't have a HD TV tho, so, I don't know what to expect from the video. I assume it will still work, I just won't get the full awesomeness of it. True?