I've been developing Android games for the lower res screens (320x480) and then letting Android handle the density adjustments so the games work on high res screens. It allows me to keep the size of my APK files small and I don't have to create multiple versions of every image in my games. It actually works fine, the games still look nice on higher res screens.
However, my question is, is it possible to do the same thing, only backwards? Can I develop for high res screens (800x480) and then somehow let android handle the density reductions automatically?