Upgrading to HD client monitor

I've been cutting more and more HDV (I capture it through my Kona 2 card as DVC Pro HD). But the way things are looking, what with the new compression ratios available in FCP Studio 2 I'm sure I'll end up on a project that is 1080P before long. Is it necessary for my client monitor to support 1080P (also for color correction purposes) or would a good quality 720P monitor suffice? LCD or Plasma?

Thanks in advance,

Evan