Ever since I've seen Reach screenshots and then learned that they were still not full 1280x720 images, I've been convinced that horizontal scaling is a perfectly valid option for video games. I actually wonder why Crytek chose to scale in both dimensions; although the results do seem to justify their approach.
And yeah, 1080p seemed to be far to much for these GPUs and bandwidths from the beginning. I've already said it - Last of Us looked totally amazing at 720p, noone complained about the image quality, so there's not much reason to waste performance on more pixels instead of better looking ones. Twice the fragment shading power will always look better than a somewhat sharper image with worse looking pixels.
And yeah, 1080p seemed to be far to much for these GPUs and bandwidths from the beginning. I've already said it - Last of Us looked totally amazing at 720p, noone complained about the image quality, so there's not much reason to waste performance on more pixels instead of better looking ones. Twice the fragment shading power will always look better than a somewhat sharper image with worse looking pixels.