For sure, the textures and such are not related to resolution but believe me, on a 46 inches screen the image is sharp and clean in 1080p, but it becomes blurier and fuzzy in 720p. Just the transition between the XMB of the PS3 to the actual game you can tell it's not 1080p anymore jut by checking the writings.

That is, if the game is in 1080p, cause I own both the 360 and PS3 and I usally buy games for the 360 if their available for both platforms. even if I'm primarilly a PS3 fan. Just to give a few exemple RE5, Tekken 6, Uncharted 2, Ratchet and Clank aCiT were not 1080p and that's just to cite a few. in that case I bought RE5 and Tekken 6 for the 360. And one last thing, even if the game is not 1080p native, the 360 does an excellent job upconverting them. I sincerly hope for a major update of the PS3 who will enable such a functionality. That said both console are excellent in my opinion, that's why they are still there even if the Wii overkilled them both, in terms of sales obviously.