Even though it is possible COD runs at 720P it still doesn't prove the Xbox isn't capable of 1080P.
Also i have seen both the Xbox and the PS4 and in my opinion everything i got to see on PS4 other that Assassins Creeds looked terrible in frame rate compared to what i saw and got to play on the X1 so i am definitely not worried 1 bit and so excited to get the X1 or though i may buy a PS4 in the future if it turns out that the games really are far better than the X1, but at the moment the X1 it is for sure.
I have just seen the latest live feed Forza 5 video and i think it is awesome, so can't wait to play on it again!
http://www.youtube.com/watch?v=bDOdoPXmSvo