I had both the Optoma ML500 and the Acer H5360. The LED Optoma and Acer is the same and could be bought for the same price if you look at the right stores. The question is really how much are you going to watch your projector. I watch my Acer about 30 hours a week at the most, which is a lot for me. With the 5000 hour bulb, it will last me close to 3.5 years. And with a new bulb replacement, it will last 7 years for $550, $400 for new projector and $150 for new bulb. With one of the clones, the estimated LED, which is at least 20,000 hours, it will last me 14 years, which is double for $600. To me both last extremely long, so the cost was not an issue.
Brightness is a huge advantage over the Optoma I had. The H5350 gives me 1300 lumens on Eco mode but the Optoma ML500 gave me 350 lumens. The brightness is huge and the color is actually great, but not as good as the LED projector. Focus and sharpness is much better on the H5360 too. Neither one is suitable to me to me for blu rays. Gaming is better on the H5360, but if you want 3D, the Acer offers that for you. I played uncharted 3 all the way through. It was my first game I completely since 2005. I could not put it down, because 3D pulled ne into the game. Even tho the Acer H5360 has so many positives, I am patiently waiting for a $2000 or less 1080p LED projector for future proofing it with HDTV. For under $500 I recommend both to my friends. I have friends who watch their projector about 8 hours on the weekdays and 12 on the weekends, so a LED is a better suit on a smaller screen but on a bigger screen, the Acer is much better because of the brightness.