When opening a new project many PAL and NTSC HD movie settings are listed including Full HD. However when finally burning a DVD standard widescreen 720x576 is the best that is listed.
To expand on Terry's comment - yes it is possible in MEP to record Full HD on a 4.7GB DVD disc with a standard DVD writer, that will play in a Bluray player (only), using the AVCHD format with a maximum project length of approx 30min . In the Burn section click the burn button and select the AVCHD option. You can tailor your project to fit if it is slightly bigger than the space available by going to the encoder section and clicking the "Adapt bitrate" button.