Re the menus and HuD elements, I can't check now as the game is my housemates and he's taken it elsewhere tonight. The TV says the signal is full 1080p coming from the HDMI. Maybe I'm expecting too much, but I could swear MW2 looked much sharper. I don't really know what else to do though we've tried various combinations in the display settings menu, it's currently set to automatic. I'll check out how crisp the HuD elements are tomorrow.
I thought we were going down the 3D route? That would probably see no increase from 1280x720 in the next consoles in order to get satisfactory 3D performance.