I made a small image demonstrating different video resolutions: (click for larger view)
We are limited in our options for screen resolution. I am able to use fairly high quality cameras that capture at DV PAL, 768x576 screen resolution at 25 frames per second. The other option available is to use a Kodak ZI6 which captures at 1280x720, 720p HD at 29.97 frames per second, but the actual quality of the footage isn't as good as the other camera.
The other point to consider is the aspect ratio. DV PAL is 4:3 which results in a more square looking picture, but the 720p is widescreen, and much more wide than DV PAL. This results in a wider capture which is more like cinema.
Due to low availability of cameras I will have to settle for whatever I can obtain, but having looked at the differences I am prepared to use either.