I tried HMZ-T1 in the store. It's like an ant cinema. Yes, relative proportions and perception of screen is akin that to a movie theater screen. But at the same time you know and feel like looking at a small screen, it just makes you feel tiny, like an ant. Hence ant cinema effect. Think "Alice in Wonderland". That's like being shrunk Alice watching a movie on a 10" tablet. Only even smaller.
In my personal experience (!) I find my small 73" TV much bigger perceptively than supposedly 150" screen on HMZ.
I don't think HMD is a replacement for big TVs or PJ... if you want big, you need real big. They're just good for... cheap fake big.