A Muppets version of Queen's Bohemian Rhapsody? You got me at Gonzo and the chickens. This cover is one of the first 1080p YouTube clips—weighing 107MB—and the 72MB 720p version. Does the resolution make any difference? You bet.
First, enjoy the video by playing it full screen.
Better yet: Use Firefox's Download Helper to download the 720p and 1080p MP4 files, and play them side by side or at full screen. You will see that the 1080p version is clearly sharper than the 720p. In it you can see the delicate textures of the Muppets' fabrics, as well as less artifacts, and more details in all the objects in the screen. Don't believe me? Check this gallery then.
The details are clearer. Enough to guarantee many YouTube producers to get full HD cameras. [Thanks Gitemsteve]