If we're speaking as a whole.. Given the choice, of course I'd take 1080P (or higher) any day. However if the game is console exclusive on a last gen console; lets say Yakuza 5 on PS3, in our region.. then yes. Its acceptable.
On eighth generation consoles however.. 720p should really be a thing of the past. The image looks soft - even when upscaled. And then you have aliasing and other artifacts.







