How cheap is cheap?
As I understand new 720P projectors can be had for less than $1000. I would think <$400-$500 for a used one is cheap.
The lamp of my 480P projector is about to die. The cost of the lamp is $200. 1080P is an overkill for me now. Since the main use of the projector is DVD and Netflix Roku box which supports HDMI output. My current 480P projector does not support HDMI. I am thinking a used 720P can be used as a stop gap for a year or two before getting into 1080P.
Also thinking about getting the Toshiba XD-E500 if it gets cheap (<$100) in the coming holiday. It will be 1080P proof and preserve the value of my DVD collections.