Welcome to the forum.
What version of Encore? AME?
Please verify your description of the source footage. 23.87 is an odd frame rate. 23.976 is standard for 24 fps NTSC. How was the source footage created? What format and codec is it? Is it really progressive or is it some form of progressive-segmented?
Hollywood uses multi-thousand dollar encoding software and highly-paid compression experts to achieve their results. Your stuff and my stuff will never look that good, unless the experts make a mistake. (And I've seen more than one Hollywood DVD with enough mistakes to make me wonder if I couldn't have done a better job.)
- Select a Widescreen MPEG2 DVD preset in the AME.
- Make sure to select Maximum Render Quality in the Video tab settings
- Import the M2V and WAV files as a timeline into a new En project.
- Make sure the Project panel shows the M2V file as "Don't Transcode"
- Author and burn a disc and test in a hardware DVD player.
If the resulting video has any blocking artifacts they can be fixed with bit rate adjustments. You're looking for jaggies and/or combing artifacts. Hopefully there won't be any.
Also make sure that your playback pipeline is appropriate for DVD -- either test on a SD CRT or make sure your DVD/BD player or HDTV has acceptable upscaling quality. If the player or the TV don't upscale well, then nothing you can do will fix that.