Not quite accurate... A true 720p set would have a resolution of 1280x720=921,600 pixels. (They're usually 1366x768=1,049,088, for some bizarre reason) A 1080p set at 1920x1080 would be 2,073,600.
Exactly!!
But one site I looked up said the Panasonic set that the OP is looking at has specs of 720x1024, so the math I did was accurate for that specific set. I see another site says its 768x1366.
The fact remains that the 1080P set will have more than twice the # of smaller pixels and allow you to sit closer without seeing them.