Tough budget but possibly doable.
I know you can build a screen the size you're looking for in the range of $100-$120. I did it several years ago.
If you could find a Yamaha LPX-510 for $400 I think you would be happy for a long time. We have had ours since 2005, it's been moved between 6 houses in 2 states. The only thing we have had to do is replace lamps around every 3,000 hours. I believe we are on lamp 4 now.
It is only 1080i, but with power zoom, power focus, power shift (hor & vert), keystone, etc. it is a complete projector. I keep thinking of getting a newer projector but why? This thing provides a VERY good image whether using DirecTV, DVD/BlueRay, Xbox 360, PS2 & 3.
We have a dedicated home theater room, projector is about 13' from a DIY 125" screen. Get 4 people playing Halo and basically everyone gets a 62" screen.
ÂExperience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny.Â Thomas Jefferson