I looked at projectors and decided against it. The bulbs are very expensive, they can produce fan noise, they are far more expensive than a TV, you have to have a darkened room to really get the contrast, so closing curtains etc. and the area you are projecting onto needs to be as white and reflective as possible to get the best picture and keep it clean and dust free would be a faff, or have a pull down screen. You can make them work but what a faff.
Mine was £200 second hand with hardly any hours on the bulb – it’s 720p and it looks great. Don’t watch it much in the daytime so closing curtains etc not really an issue. Currently projecting onto a white wall but will probably get a drop down screen at some point. There is a little bit of fan noise.
I use it with Apple TV to watch Netflix/YouTube/Vimeo and the odd iTunes download, plus stuff streamed off my HD or iplayer etc. Not sure I’d want one if I sat in front of regular TV all evening every day as I guess you’d burn through lamps reasonably quickly.
Unless you’ve got a special room for watching your telly that isn’t your normal front room, having a massive telly dominating the room is just horrible, IMO. Unless you’re one of those weird people who just has the telly on constantly, even when no one’s really watching it.