Glad to see the Luddites like me are ahead in the poll 
Seriously, though, this question is all about priorities for me. I think we all want our games to look as good as possible, but resolution is only a single element of a much larger equation. Frankly, game design is so much more important, at least in my eyes.
Take Ocarina of Time, for example. This dinosaur of a game runs at 240p and 20fps. I imagine a lot of modern video game enthusiasts wouldn't touch a game with those specs with a ten foot clown pole. Yet, it's arguably one of the greatest games ever made, with some of the best music and sound design in video game history, expert dungeon design, and an intoxicating sense of discovery.
Now take Killzone: Shadow Fall. It boasts incredible particle and lighting effects, amazing draw distances, super-detailed textures, 1080p resolution (at least in single player), and 60fps. And it's mediocre at best, with a nonsensical story, poor level design, and infuriating free fall mechanics.
Now, this isn't exactly the fairest comparison. But, for me, it's emblematic of this debate over resolution and advanced technology in general. I'm all for organic growth in technology. I appreciate the advances that have led to online functionality, larger 3D worlds, and more accurate physics. But the design philosophy and mechanics of a game usually determine its greatness - not pixels, not frame rate, not God rays.
Just my two cents.