I'm SERIOUSLY considering getting this projector, and I just read through the entire thread. The KEY bonus for this projector over the others I was looking at (Epson 8350 and Viewsonic Pro8200) is the SCREEN size you can get. I wanted AT LEAST 120" from 10' and this one will give me like 150" at 8'.
Anyways, I read some stuff about the Lens melting on the GT720, and with a 1 year warranty, it isn't exactly comforting. I think that's my biggest hurdle to overcome right now.
Viewsonic has the Pro8200 @ 800$ with 3 year warranty. But that one will only do like 100" @ 10'
I want a GIANT Immersive Experience, so much so, that I'm willing to pass up on the 1080p (which is UNHEARD of for someone like me).
But like others have mentioned, most of us, view content that's 720p or less.
PS3, Xbox, Wii, DVD, HD Digital Cable (720p/1080i), Blu Ray is the only thing that's 1080p, and at 30$ a pop, I don't buy many of them.
So, it makes "tolerating" a 720p setup a lot more bearable, and I'm sure it'll still look better than the standard Theater setups.