As a guy who's been working in the AV business, get an LCD TV.
Setting up the projector to be perfectly square and focused, running all the cables, and dealing with $500 bulbs that last about a year: a larger cinema experience just isn't worth the bullshit; however, the 150 or so projectors we have are heavily utilized so the bulb life will be longer for you depending upon how much you use it.
If you do get a projector, DON'T get an NEC. NECs are terrible. They are laggy and run Windows CE in the background. We've had numerous, numerous Windows crashes on these suckers and they completely freeze up as a result. Also, the lenses really suck. They all have some sort of noticeable imperfection on them that makes it so you cannot fully focus properly. The bottom-right corner seems to be the biggest issue we've seen in all of our NECs.