I recently saw this projector at a local ht store in my area. I found the picture incredibly detailed and sharp. The colors were also very pleasing to my eyes. The projector was demoing a concert when I got there, so I asked one of the sales people if they had anything else to show, mainly high def. The guy put in the Transformers on Blu ray. The opening sequence of space and the cube shots were amazing. I would say more 3D than I have seen on most other projectors I have seen. The blacks looked very deep, though maybe not quite as deep as the JVC RS2 that I have seen demoed, but very close. The picture was very clean, noise free, and the colors, again, they were very accurate. Of course I am sure they had the projector calibrated, but nonetheless I have heard that the colors are very good out of the box. There was also plenty of detail. I was very impressed by how well the Planar performed. I can't say how well it performs with standard def, but I believe most people are going to watch mostly high def on their projector anyway.
Hey mortisemaker can you post any pics of your setup and maybe some screen shots. I would love to see some more of this projector.