I'm just going by the fact that he said "very little money/effort". Yes upgrading out of the Sony 12xx series would be a great jump, but can't be done for very little money..
I base my opinion between the 1270 and 1272 on the fact that I have owned 2 of both.. actually heres the list:
The 1272's beat the 1270 in ease of use/image quality enormously(convergence problems/drift because of old worn out circuitry mainly(benefits of 21 point convergence ONLY found on the 1271 and 1272)- but OK tubes on the 1270's). The difference between the 1251 and the 1272 was quite noticeable also. Between the 1271 and 1272, not a whole lot of difference except for a teeny bit more brightness and sharpness. Again, HD-8 lenses that came stock on 2nd gen 1272's will kill the benefits, since they are softer.. use the PT-43's.
If the OP can get a 1272 with good tubes/below 3000 hours or thereabout for "very little money", it will be worth it until he has a decent amount of cash to upgrade out of the series. Not to mention the 1270 will make a good parts machine(about 2/3 of a PJ worth of parts). I still say go for it.
No offense of course, Mark.
I am what I'd like to call a "king" of budget home theater, which is why I am still stuck on a 1272 after almost 5 years.