60Hz versus 120Hz. Worth the price or not?

Hi,
I am in the market for a new tv and i have a lot of questions. The main one i have is which is better to have, 1080p with a 60Hz frame rate, or a higher frame rate with 720p and a 120Hz frame rate. The main reason i am asking this is i want to know if the 1080p will be able to keep up with a lower frame rate. It is a bit more expensive and this is a lot of money so I wanted to know if the tv could keep up.
Thanks!
