Thanks for the replies everyone.
So I actually have the project in Resolve. All files are DPX or R3D. Grading, noise reduction and the like has all been done. I've been exporting prores 422 (hq) for tests ( to see how the film looks ) and to marry it with my audio in Premiere. I forget what it is with Resolve Lite, but it doesn't allow me to export with audio (maybe it's a hardware thing on my mac). But either way, it doesn't let me. So until I get back to the colorist (who isn't available until late Sept.) for the final export this is what I have to live with - going out of Premiere.
In any event, there are some festival deadlines coming up before then so I have to get a copy on withoutabox, which wants h264 720p if I'm not mistaken. So I either can go back into Resolve, export a prores 4444 (which is completely doable) or stay with the cut I already have (422 hq). Either way I have to go down to H264 720p. That's why I asked if the quality is that much of a difference going from either one of those, because if it's not that big of a deal since I'm going to 720p anyway, then I won't bother. But if it will look better going from 4444, then I'll take the time and do it.
But if I were to get into these festivals I would be creating a DCP from DPX or TIFF or whatever straight from Resolve. So in that case I'd be going with the highest quality I could.