Did a bit of research on projectors, DLP vs. LCD. The pros and cons seem to generally be the following:
LCD Projectors: Strengths
* Richer color dynamics for better results in rooms with ample ambient light
* Draw less power
* Throw less heat
* No color filter wheel = No "rainbow effect"
* Slightly quieter
* Seemingly sharper image on data
DLP Projectors: Strengths
* Smoother video
* Smaller box
* Pixels far less visible
* More "film-like" on DVD and HDTV
* Generate "blacker" blacks
* Higher contrast
LCD Projectors: Disadvantages
* More visible pixels
* Some "screen door" effect on certain video images
* Physically larger - Even for the same number of lumens
* Poorer contrast
* Blacks come out lighter gray than DLP projectors
DLP Projectors: Disadvantages
* Rainbow effect bothers some
* More moving parts (color filter wheel)
* Color filter wheel often produces soft but audible whine
* Poorer reds and yellows at full power
* Color saturation
* Need more lumens than LCD, for rich colors, when dealing with ambient light
Ultimately I went with LCD. Since I may use this projector in varied locations, I wanted one that would be bright enough to project a visible image in a room for ambient light. The one I got shines a respectable 2,500 lumens.
DLP is supposed to have better contrast for truer blacks, but the LCD model I got seems to have decent contrast ratio too. And if I can see pixels, I'm not really bothered by that. Just reminds me that I'm viewing a true crisp digital feed.
DLP seems well suited for a controlled home theater setting where you can get the room entirely dark, and want to have a theater film like experience. Maybe one day I'll have a true home theater.
But for my current uses - everything from Hallowindow displays, giant sized video gaming, and public guerilla cinema screenings (in areas with ambient light) the LCD projector seems like it will surely do the trick.
I went with the Epson Home Cinema 705HD. Seemed to be a great price, for the specs and HD capability.