Pretty much....quite amazing that current hardware won't accept true 1080p signals from any devices coming out in the next 6-12 months. If the backlash gets too high, manufacturers might provide firmware updates (if thats even possible) to allow it.

Also, dont forget the HDMI spec is being upgraded (to 1.3 i think) and is not backwards compatible with previous versions. Someone please correct me if I'm wrong here...that's the gist I got from some articles.