It would, but the effect would be akin to having a 35mm slide duped up to 6x9cm size; ie, it wouldn't be any kind of match for a larger original.
Resing-up a digital file can't create detail that doesn't exist in the original, and the lower pixel count of a camera such as the D70 means it is inherently incapable of matching the capture of finer detail which you'd get from a high-end model, such as Canon's 1Ds II, Nikon's D2X or Leica's DMR. I haven't even mentioned film yet!
http://www.kenrockwell.com/tech/filmdig.htm#top
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