Many channels are 720p so the qualifier of "bell" is really irrelevant.
Regardless, as noted many times here, resolution is only one component of overall picture quality so the 720p set for broadcast television is fine, however, what if you want Blu-ray? A 1080p set likely is a later generation with improved graphics processing chips and circuitry along with ability to support BLu-ray at 1080p.
Be careful of the sets you're researching before you buy. If you have set your sights on 1080p, you will need a HDTV set that has the feature that upconverts the signals even the SD signals to 1080p. It makes a huge difference, for you'll never complain that the PQ on SD appears less than perfect.
I will be sitting 10 feet from the screen, which is optimal distance for 720p and too far for 1080p. I expect usage would be 90% (or more) TV and 10% rented blueray movies. I wouldn't want to degrade TV PQ for a slight improvement in movie PQ.