Pros: Cheap, high-er resolution than most in it's price range, cheap!
Cons: Rainbow Effect, Black Levels
I agree it's a great bargain. I paid $444. However, it does have a few drawbacks. The rainbow effect is much greater than the InFocus, the fan is a bit noisy, and it never quite seems to focus to perfect. That last item has to be forgiven somewhat. It is at 14' throw so at that size it's going to be hard for any 720P projector to get a decent enough image quality. Black levels aren't extremely good. If you are watching a nearly black scene then the lighter features tend to separate from the darkness.
Overall, I'm pleased with the cost/performance of the unity. I would recommend it to anyone needing to get the lowest cost projector while maintaining a quality of craftsmanship that Optoma has. If you are going to run a PC from this even more so, the higher resolution will fit your needs.
It comes with a nice carrying case, which I won't use, and a remote with a laser pointer so your kids can terrorize the cat. If you decide to go with this one enjoy, but it's not going to satisfy if you're a stickler for sharpness.