1080 is literally 2.25times the resolution of 720P
Not to be picky, but your math is way off... 1080/720 = 1.5. Not to mention that 720p actually contains more vertical detail than a 1080i picture. 1080p is a different story, of course.
Also in my case, I have a native 720p set, so nothing's getting upscaled to 1080. I obviously can't comment on the quality differences between upscaled 720 and native 1080, but one would assume 1080 looks better than upscaled 720 on a native 1080 set. Although, I have to consider the compression artifacts I see on my satellite provider's picture quality (DISH HD). Why would I want to see those in 1080 anyway? I'm thinking those would look even worse if I had a 1080 set. Until the providers up their standards, I'm perfectly content with 720p.