I actually just finished my "perfect replay" with a shot to Lucien's head. (Beat you to it, Reaver!)
I ended up going The Sacrifice even though ever since it was announced that Fable III would include game save import I was hoping Rose would appear in some side-quest (or variation of the main quest, depending on your choice), because I thought in the end, I had already made my peace with her death. Even more so after killing Lucien. And honestly, even though such a use of imported game saves wouldn't surprise me, from what I've heard, officially and unofficially, I think this won't be the case.
And now, since I'm pretty sure the game auto-saves immediately after you return to the Oakfield docks--and I'm therefore stuck with The Sacrifice choice--I hope she won't be returning. At least it's certain Scythe won't; unless Lionhead are liars.
I'm starting to rant... but anyway, I don't think the choice will make much of a difference besides in reference-type ways (like when anyone talks about Chicken Chaser in Fable II or mentions how "Wraithmarsh was once an idyllic village" referring to Oakvale) or perhaps, like I said before, in some sort of side-quest. Possibly, there will be a statue of Sparrow in Bowerstone if you chose The Sacrifice and/or the game begins (at least if you imported game save) with a prologue/recap, mentioning how your father/mother had affected Albion before you, the Fable III you, will do the same. Or something.