Cirrus and WDC cards can as of now do 1280x720x8bpp

Tested with GD5426, GD5434, WD90C31, WD90C33. Your mileage may vary.
WDC:
These cards have physical jumpers or dip-switches to select refresh rates for the different resolutions.
You want to select 70hz for the 1024x768 resolution, in order to get 60hz @ 1280x720.
Cirrus:
Should just work, pixel clock is configurable from software so the driver does that.
I'm getting some horizontal ghosting which I cannot get rid of completely using the OSD on my monitor, so probably some tweaking still needs to be done. Could also be the mem clock not keeping up with the higher pixel clock for 1280. Not sure yet.
And in the order of fast->slow in 1280x720x8bpp
(they're all plenty fast compared to unaccelerated cards and you can't go wrong with either of them)
These are for my particular card models, there will be performance variations depending on exact brands.
Cirrus cards are easily overclocked with software but for this test they ran at stock speed as defined by the vendors vgabios.
Cirrus GD5434

- gd5434.jpeg (71.21 KiB) Viewed 547 times
ET4000/W32i (2MB card with memory interleave enabled)

- w32i_interleaved.jpeg (73.07 KiB) Viewed 547 times
Cirrus GD5426

- gd5426.jpeg (73.11 KiB) Viewed 547 times
ET4000/W32i (1MB card, no memory interleave)

- w32i.jpeg (64.54 KiB) Viewed 547 times
WD90C33

- wd90c33.jpeg (58.64 KiB) Viewed 547 times