Well, I was in your shoes a few months ago, and I went with 1080p@120Hz. I don't regret not going with 1440p in any way. I guess I'll start off by describing my reason why I went with 120Hz, which may help you in your decision.
I wanted a monitor that had 120Hz, simply put. Color accuracy was not a priority, as was resolution. I researched the Qnix/Xstar PLS overclockable monitors, and only some could reliably hit 120hz, which was a chance that I wasn't really wanting to take.
Every once in a while, I play my PS3. Since the Qnix/Xstar monitors don't have an internal scaler, you won't be able to hook them up to anything else besides a PC.
I watch a lot of movies and stuff with SVP, so every movie that I play is played at the refresh rate of my monitor. Seeing how great videos looked at 60fps, I wanted to try something higher. This was one of the cases where I was wanting the color accuracy of the PLS panels.
I am a casual pc gamer, but if I have the time, and I'm in the right mood, I can easily blow 15 hours a day on Skyrim or Mass Effect or something, and I knew I'd appreciate the higher refresh rate.
Some of you may look at my rig and say that 290X crossfire is total overkill for a single 1080p 120Hz screen, and you'd be right, for the most part
. I know how it felt for 4 years having to lower settings in order to get playable frames in most games, and I didn't want to go through that again. Having the peace of mind in knowing that I can max any game I want is really nice. That, and the difference between 1440p and 1080p, strictly in resolution, isn't anything groundbreaking. Yes, the picture is sharper, but the difference isn't as hyped up as most people say it is.
So, with all of that put together, 120Hz at 1080p felt like the best decision.
Now that I have the monitor (BenQ XL2720T), I won't be able to go back to 60Hz again. It just feels and looks stuttery in comparison, especially with lightboost enabled. Just doing general day to day things like browsing the web, scrolling through stuff, dragging windows around, and browsing through the OS feels much more natural, smooth, and easier on the eyes. Some people will probably think that's nitpicking, but it isn't. My accuracy is also better with this monitor.
As far as tearing goes, it's basically the same as 60Hz, but in smaller increments. So, instead of having one big tear ripping your screen in half, you have multiple faster and smaller tears.
I've used a friend's 1440p monitor before (iMac), and the colors and pixel density is pretty nice. Since text is smaller on the screen, I have to squint or zoom in on some stuff. It's not a biggie, though. With my monitor, the colors don't stand out as much, and the pixel density isn't as great, but I prefer my monitor for everything else. You will only notice the color quality when they're side by side, and once separated, it's easy to get acclimated to. 120Hz is much more comfortable and easy on the eyes, and the resolution makes stuff easier to see. So, no zooming in or squinting anymore.
Just keep in mind that these are my experiences and preferences, and they may or may not apply to you or anyone else who's reading my post that is or is not in a similar situation to yours Edited by airisom2 - 4/12/14 at 8:58am