The blacks aren't as good on the Benq as the hc7000, but the hc7000 blacks aren't great for an LCD either, 2400:1 is nothing to brag about.
The actual black level king in the new market under $1000 is the Acer 9500bd, but it has a very bouncy IRIS.
The Benq w1070 native on/off maxes out right about 2000:1 to 3000:1 (maybe a tad bit more in dynamic with the lamp dimmer), but lacks the IRIS like the Mits LCD's. This Benq is 3rd best in blacks for DLP under $1200 (behind the Mits hc4000 which is even farther behind the Acer 9500bd - only cause the Acer has an IRIS). It's hard to see the difference between 3000:1 (w1070) and 3800:1 (hc4000 - though believe it or not, you can when they are side-by-side on all black). Without a side-by-side, the Benq w1070 essentially has fairly similar contrast to the hc4000 (unless the hc4000 is mounted at farthest throw then it nudges it). I know this how, well because I setup a Mits hc4000 right next to the Benq w1070, and used the appropriate techniques to get the peak fL the same. My findings are also confirmed in this review: http://www.soundandvisionmag.com/article/review-benq-w1070-3d-dlp-projector
Considering the w1070 costs almost half as much as the Benq w
7000, yet the w1070 has at least double the native on/off (possibly triple depending where you mount the two PJ's), it's a steal. The w
7000 can still beat it in blacks easily if you set the IRIS in the service menu to be more aggressive, but the w1070 is competitive OOTB in blacks with the w7000's default IRIS settings.
Back to the LCD, the Mits hc
7000 easily beats all these in black levels, but my point was not by enough to really be a deciding factor. I'd like to see an IRIS easily comfortably break 10,000:1 on/off in a smooth transition to really be a deciding factor on blacks alone over a lower-end DLP. I think in the budget segment, most people would rather have a projector that is 3x brighter than one that has slightly better blacks with 1/3rd the brightness.