Pretty much. When standing right up in front of a 1080p display, yes, the difference is obvious due to the smaller pixels.
When actually using these displays from the proper view distance, however, it becomes less of an issue. Whether or not you select 1080p depends upon the view distance you will be using at home. If you plan to sit really close to a big display, it would probably be worthwhile.
Still, I maintain that 1080p is bad for 720p content. I mean, it looks reasonable, but I feel that the resulting scaling is somewhat ugly. Akin to using a PC LCD at a non-native resolution. That's the main issue for me. The only 1080p content I really use is Blu-ray, and that scales 1080p to 1366x768 at 24 fps. I could use my PC at 1080p, of course, but that is FAR more demanding. 1366x768 is much easier to drive. Most console games are 720p and I much prefer the appearance of them on a lower resolution display.