Hi @veeraku,
Good question, and thanks for doing your research on the forum before posting. This is a complicated question with no real right answer, I've written my thoughts on the matter some time ago here that may be of interest to you. The short version is, it depends on your samples and the questions you are trying to answer. For most typical samples we see around here (gut, intestine, skin etc.) your sampling depth should be sufficient.
I would say yes the resolution will be good enough, of course not as good as paired-end but the benefits of the latter only reveal themselves depending on what you are asking of your data. The benefit of using only your forward reads is you are most likely able to retain more reads.