I'm not so sure about 1080p at the point personally for PS3. I've only seen a couple 1080p on PS3 so far but they look like PS2 games in High res. All if read from developers is that 720p is the best option to get the best graphics on PS3 and 360. 1080p is good for games that are don't have too much graphically substance to make the look as good as possible. I would rather see a God of War 3 with Gears of War type detail in 720p, than a God of War 3 with a God of War 2 type detail(but of course better), just in High res.
Of course those are just my worries. Hopefully it looks great in 1080p. God of War 1 certainly doesn't let me down graphically and neither will God of War 2 I'm sure. But if they already know GOW3 will be in 1080p, it kind of sounds like they are rushing it a little bit. Hope not.