[esonderegger]

The folks over in Europe watch their 720p at 50fps, which is awfully close, but would still require pull-down for material shot at 48fps.

I wouldn't expect any new home video standard formats any time soon. I think for viewers to see The Hobbit in their home theaters at 48fps, it would require them releasing the movie as a digital file (still a long way off) and for there to be both a file wrapper and playback software capable of handling new frame rates.