Edited for clarity:
You can only get it to play on your dvd if the .ts contains a 480 version on one of the subchannels (or main channel for that matter).
you would have to convert the transport stream out of its wrapping to the basic mpeg2 file with something like HDTVtoMPEG2.
Then you would have to go through the normal steps of making a dvd from an mpeg file.
If you want 720p or 1080i, your dvd component isn't going to know what to do with it.
Thus, at that point, there is really no reason to take it down to mpeg2 unless you want to get rid of the additional subchannels as it still will not play through the typical settop dvd-player.