According to the keynote, if you bought an HD version of a movie, you can download the 1080P version through iTunes to your computer through the purchased tab. When you look at the descriptions now of any movie in HD on the iTunes store, it says HD includes 1080P and 720P (downloading 720P).
So was the keynote wrong and you can only stream 1080P or can you download 1080P into iTunes to store locally:
So was the keynote wrong and you can only stream 1080P or can you download 1080P into iTunes to store locally: