It does do 1080 but only by up-rezzing in camera - it's still only a 1 million pixel chip.
And you're right, they do allow 720 but usually only for certain types of shooting - most notably wildlife, where the slow motion is essential. But with 1080 slomo now becoming a reality you have to think that 720 days may well be numbered, and do you really want a worthless asset on your shelf? Not saying this will be the case, but it'd have me biting my fingernails for sure.
Steve



