The Slide Show Assistant, along with VideoWave in Easy Media Creator 10 will do what you want, except that 1080P is not supported (full 1080i is supported, with 1920 x 1080 resolution). For a slide show the difference between 1080i and 1080P should be trivial.
Slide Show Assistant gives you full control over pan and zoom, and you can export the finished slide show to VideoWave (our favorite NLE). In VideoWave you have up to 32 video tracks, titling, effects, etc.
Slide Show Assistant and VideoWave support H.264 (Advanced Video Codec), MPEG-2 MP@HL (High Definition MPEG-2), Windows Media Video HD or DivX .... all either 720P or 1080i.
I hope this helps you. Perhaps other Creator customers will be willing share their HD slideshow experiences here, to give you some unbiased opinions.