Dolph, you may well find, as I did, that there is no single answer as to one res. or another being "best."
With my Dish 811 receiver and RP-LCD, what looks best is to set the 811 to output whatever resolution that programming is broadcast in. This is 1080i for most HD, except ABC, Fox, and ESPN. Not hard to remember. And I have programmed macros on my remote to do the res. switching.
The reason for this is: the tv does a better job of scaling 1080i to 720p. So for 1080i stations, I set the 811 to 1080i and let the tv scale. For 720p stations, I set the 811 to output 720p since that is the native rate of the tv and the 811 just passes the signal through. If I left the 811 set to 1080i for stations broadcast in 720p, the 811 would convert the signal to 1080i, then the tv would have to convert it back to 720p. The fewer conversions, the better the picture is going to look.
It would be nice if it were all simpler, but with macros, it's not that hard to change. And I really don't mind, because the difference it noticeable.