i have a 1080p in the living room. i dont use my macbook as a media driver, but i use a 1080p dvd player and an hd cable box. 1080p is much better than 1080i IMO.
and im sure its better than 720p, thought i've never seen a 720p
1080i is practically the same as 720p. It's very hard to see any sort of difference. Now for the ops question, you won't see any difference between 720p vs 1080p unless you are downloading blu ray movies off the internet or you get an external blu ray player with a blu ray dvd and use a mini-dvi from the computer to HDMI to your television.
Now if you wont be downloading movies off the internet in blu ray or buying a external blu ray player than you wont see a difference in resolution BUT when you go from 720p tv's to 1080p tv's, you'll see that 90% of the time, your 1080p television will have a better contrast ratio. Therefore, yes you will see a difference in things like your black levels and natural color quality. Plus, if you want to "future proof" yourself, go 1080p. Blu ray players came out little over a year ago at $1000, now you can pick them up for $400, what do you think they'll be next year? They'll be affordable and more so will the blu ray dvds.
Cable will eventually be going 1080p within probably the next 3-4 years as well.
Go 1080p, don't be a chiseler.