Ask HN: Media queries for high res phones?

I recently bough a Droid Razr M which has a screen resolution of 960x540. Other phones such as the Samsung Galaxy S3 have a resolution of 1280x720, as does the Droid Razr HD.

Is it acceptable to target anything 1280 and below with a mobile-optimized view? I know netbooks are often this small or smaller, and I often browser on my Macbook pro 17in with two 1/2 size screens (~960px ea)

It would seem that media queries are not sufficient at this time.