720p is a progressive scan signal. In the 1080i , the "i" stands for interlaced. A progressive scan signal, again in layman's term, is basically a line doubled wave to see your picture, to display a picture rather. The "i" stands for interlaced, so you are seeing true lines of recorded information.
Right now, it is important to you because everything is going to HD. I have customers and people that I talk to that argue which signal they like the best, which one is actually better. So, as long as you are getting a television that is capable of one of those, then I would say that you are heading in the right direction.
It kind of dances around the answer, because there is not a straight forward answer. It's based on the opinion, and I have not formed an opinion on it. I think they both look very good.
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