I bought this projector back in November and was initially impressed with the both the brightness and the image quality and color. The major flaw was that I could not get it to produce the correct aspect ratio with my Magnavox Blu-ray player - non of the aspect choices on the Blu-ray player would give the correct "wide" aspect. Luckily I did not have to same problem with my Dish HD-PVR Satellite receiver, I simply chose 720P with 4x3 choice #2 in the HD setup menu and the aspect ratio was wide and looked good. The colors on the image were pretty good and could be tweaked somewhat (saturation, contrast, brightness, warm, cool, etc.) and I was able to get about and an 85" image (wide / diag.) from 12 feet away.
HOWEVER, the fan made odd noises from the get go. I thought it was just a loud fan but within a few weeks the projector would not start without several tries and I could tell the fan was struggling to work. It eventually stopped coming on and I sent it back for a replacement.
The new one arrived in a timely manor and it has worked perfectly since (except for that pesky Bly-Ray play aspect ratio problem).
One note, the projector does handle 16:9 from my older DVD player correctly if I choose the 4x3 aspect ratio from the DVD's setup menu (it is an upconverter model with HDMI out). So I am using that for all my DVD playback to the projector.
I have had the projector on for upwards of 8 or 9 hours at a time, day after day and so far it is fine. With 15,000 hours I can do that for almost 5 years and at $370 that is not a bad deal - hell, its cheaper then a HD TV would be and much bigger. It is certainly more enjoyable then my 46 inch LCD - a 1080P Samsung which does look sharper then the projector but again the projector is only XGA not actually 720P or 1080i HD!
I do recommend this projector for basic HD TV viewing and regular DVD play back. Since I can not use my current blue-ray disk with it I can't give an opinion - I do suspect that the problem may partial be the Magnavox blu-ray player, which was a cheap model (doesn't even have internet access) so I plan on buying a new one soon and when I do I will post the result I get!