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Forget both and get a rear projection unit. Mitsubishi makes them up to 83" and it'll be cheaper, with a better picture, than either the LCD or projector. No input lag (if you game), no motion blur like every LCD has, and more than bright enough to be used in any lighting condition. It also won't suffer from off-axis picture degradation like an LCD. Yes, it's going to be about a foot and a half deep so you won't be able to hang it but unless that's a must you can't beat a DLP rear projection unit.
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