With the format war finally behind us, and 1080p HDTV prices sinking like a stone, this week's Ask Engadget HD question was bound to surface. After discovering that now would be the correct time to finally splurge on a Blu-ray player (unless you're waiting for substantial price drops, of course), we're now wondering if today's the day to ditch that once-cutting edge 720p set for a 1080p iteration. More specifically:

"I know my 720p HDTV looks perfectly good in most situations, but with prices of 1080p sets declining, I keep wondering if now would be a good time to pick one up to replace my existing set. Outside of 1080p movies and games, are there any other compelling reasons to make the leap? Will the difference be worth the cost to upgrade?"

For folks who get the itch (and have the means) to upgrade their set every few years anyway, we don't see why you wouldn't make the jump to 1080p. 720p sets can still fetch a decent amount on the used market, and 1080p HDTVs can be had for a song if the right sale is caught. Still, the question of "is it worth it?" is a crucial one, so why not give your take in comments below?

Got a burning question that you'd love to toss out for Engadget HD (or its readers) to take a look at? Tired of Google's blank stares when you ask for real-world experiences? Hit us up at ask at engadgethd dawt com and keep an eye on this space -- your inquiry could be next.

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Ask Engadget HD: Is now the time to replace my 720p HDTV with a 1080p set?