Bigbucks5, Yes but don't forget that (in the US) video is recorded and displayed at 60 Hz. So with 720p, 60 frames/second are recorded at full 720 resolution. 1080i is also 60 Hz, but each frame takes 2 cycles to record (1 cycle each for the even and odd lines per frame).
So during the course of displaying over 1 second, regarding the total amount of data handled, 1080i displays exactly half of 1080p, and approximately the same amount of actual data as 720p. But like you said, on the screen at any given time, the amount of data is the same between 1080i and 1080p.