It's either a HDTV rip or an upscale. You'd have to compare to a good DVD rip to know which one is better - often the DVD rips manage to beat the (early) HDTV ones, but this is not always the case.
Anyway, 220MB sounds very low for a 720p encoded from BD - usually they start at around 350MB (for series which compress very, very good), average somewhere around 500MB, and end in the 1GB range.