Well I mean, we do have 1080p/60fps games this gen, just that they look like PS2 titles.
yeah for sure just noting it as i think it's significant, comments from the sony rumours targeting 1080p and some peoples unreasonable expectations on what might be comming.
I would definately expect 720 w 60fps for games that need the response like this, COD, fighters, DMC etc and 1080 w 30fps for the "cinematic" stuff like Uncharted
I imagine if you left your graphics and technology entirely alone, that would be doable next gen. It's just that you probably wouldn't want to.
I'm also expecting a fair share of developers to go 720p/30fps (or subHD/unstable 30fps) for the most power possible.