I liked the part that the single light creates shadows when going thorugh complex geometry (between pipes etc.). That said the faux glow was too evident and left a sour taste (they seemed to use a billboard technique, it was transparent... One thing about glows is you don't expect them to show through, if something is bright enough to glow, it should eat its background.)
I've done that, but I expect every console game that targets 1080p to render 1080p, and simply downscale for 720p output. Or even just output 1080p because every TV with HDMI can downscale itself. Devs aren't going to take on the work of rendering to different resolutions any more IMO as all digital HDMI output guarantees every attached display can cope with the same singular output format.