Is it true that 1080p is a waste of money

Most people can actually see the difference between 720P and 1080P if a high definition DVD is playing on them. Blu-Ray DVDs will not work on 720P, so you are better off getting the 1080P. There are literally tons and tons of unsold 720Ps on the market right now and that is why salesmen in electronics stores are telling people there isn't much difference. They're trying to unload millions of obsolete televisions. There is a difference. Don't be suckered into the lower priced 720P sets unless you really don't care whether or not you are watching true high-definition content. If all you plan to do is watch old DVDs on regular DVD players, 720P is fine. If you want to be ready when everything starts converting to Blu-Ray (which will still take a couple of years), 1080P is the way to go.

I wouldn't say a waste of money. 720p is the lowest level that can be considered HDTV. There are differences, and they may be noticeable to some people on higher end tv's.

considering blueray and ps3 and all the high end stuff is all geared at 1080i and 1080p, I'd considered it a good buy instead of just getting a 720p tv.