I just bought one of these to replace my aging Panasonic AE900u (720p).
My kids had already run through 5 bulbs in the last few years. This projector is just over the cost of two Panny bulbs.
My Panasonic was 1100 lumens and was not noticeably brighter than the 700 LED lumens. In fact, I run the LG on medium brightness. So far, I like it.
This projector normally sells for $799. I'm not sure why they are selling them for $549.
These units are new. They are not refurbs.