There's no way in hell he's talking about a locked resolution (like, 1280x720). He MUST be talking about assets resolutions.
Since this is a 360 and PS3 game, the resolution of the assets used are probably at the resolution the consoles run the game at (720p), but the displaying resolution on a PC is just setting a variable - The videocard does all the muscle work. Even if the game has a fixed rendering resolution (madness), it would be trivial (technically) to change it on the .exe itself.
FPS, on the other hand, I can understand. If the engine uses hardcoded FPS counting (on frame 300 he's here, on frame 301 he's over there), it's very hard to run the game ad twice that and not mess up everything, unless you program around that, which doesn't seem they're going to do.
You can't really convince me that they'll lock down the rendering resolution of the game with any arguments. Only if it comes out and there's absolutely NO way (editing a .ini file counts) to change resolution.