I believe all HD DVDs are in 1080p. It has also been said that Blue Ray can only hope to match the quality of the HD DVD picture. The only thing lesser about HD DVD is space and price. Right now space is not an issue, but price appears to be.
It appears that the new exclusive Disney releases on Blu-ray will be 50GB VC-1 transfers. That 20 GB's more then what HD-DVD can produce. It will of course at the least equal the PQ of HD-DVD, most likely surpase HD-DVD in AQ and still have room for some great Extra's.
~Josh