Yes, the FactoryTalk View ME Runtime software and license will allow you to run a FactoryTalk View ME application on an ordinary Windows computer instead of a PanelView Plus terminal.
If you have FactoryTalk View ME Studio installed on a Windows PC, you can run the "test runtime" for two hours before it needs to be reset. To run the application indefinitely, you need the ME Runtime software and license installed.
FactoryTalk View ME can run on a PC with any resolution that is supported by the computer's video card.
"1080" generally refers to "Full HD" video, which is 1920 x 1080 resolution.