Between resolution and frame rate, I think frame rate is more noticeable by the common person (once you hit 720p). Whenever I see games at friends', the picture isn't calibrated and it's all blurry and ugly. But these same people will say "call of duty feels smoother than battlefield" and refer to frame rate without specifically calling it out. They don't notice the screen tearing either, which is a gift as far as I'm concerned.
Besides, I can't imagine a difference in frame rate. It has far more bearing on the gameplay than resolution (again, once you hit 720p). Lots of 'if's and 'maybe's but if the difference is that pronounced, maybe we'll see 1600x900 vs full HD. Or, using current PC games as an example, it'll come down to quality of effects (ambient occlusion, post-AA, etc) or something