Ok, so I'm not sure how to answer your 1280x720 problem, BUT how to record in 60fps is easy:
1) (Not sure how to do this on PS3, but I'm assuming it's the same as Xbox) Go into settings, and where you change resolution
2) Change resolution to 720P.
No matter what, when the native format coming from your TV is 1080P (Not sure about 1080i), it will record at 29.97 fps. If the native format is 720P, however, it WILL record in 60fps. And no, no specific bitrate. I'd suggest 15000 if your rig can handle it, however