Pros Quiet operation, good blacks, bright
Cons Remote not backlit, S-video connector
Summary I researched projectors for about two weeks before I settled on this one. I already had a 31" TV for watching television and wanted a budget movie watching setup. I read reviews for others, including the Cinego (which I saw at Radio Shack, wasn't impressed) and looked at the InFocus that was around $1000 with similar specs but no DVD player. I bought the Optoma right when it came out based on previews and specs.
I'm very happy with it; I use a 100" screen ($150 from Radio Shack) and an HT-15 Panasonic surround system ($300) for a home theater at less than $2,000. The projector has great color, decent blacks, and is quiet during operation.
My only real beef is with the remote; it isn't backlit (important in a dark room!) and the projector/DVD player functions are very separate and not so intuitive. Oh, and I went to use an S-video connector to hook up my PS2 for some gaming, but the plug on the Optoma is too recessed for some aftermarket S-video connectors to reach.
For those who complain about bulb life, I've had the projector for 7 months and used it for around 100 hours (rated bulb life of 4000) and replacement bulbs are around $300-400. I wouldn't use it for watching TV if I were concerned about bulb life.
Pros picture color and clarity, easy set up
Cons speakers are not very loud and face rear of projector
Summary Great picture from DVD movies. Easy to set up. The speakers in the unit are weak and they face the rear of projector. If you are sitting in front of the projector, the sound is weak. I bought 2.1 computer speakers use them with the projector. The sound is awesome with these external speakers/subwoofer. I project the movies onto a wall at approximately 120 inch picture. Comes with a nice travel case for transporting.
Pros Very easy to use and to set up. Good picture.
Cons Replacement bulbs are nearly the cost of a new projector. They are very difficult to buy and only guaranteed for 3 months.
Summary If you have an unlimited budget and are able to stock replacement bulbs for when they fail, go for it.