I always say its best to have both. Start with a good flat panel first, add a PJ and motorized drop down screen later for the WoW factor.
Projectors are not meant to be turned off/on several times a day like a TV. Each bulb strike (off/on cycle) = about 3 hours running time,
So if you turn it off/on 4 times in a single day you may as well let it run 12 hours straight.
Use a TV for daily viewing, cable TV weekly sit-coms, news, weather etc...
Save the PJ for Movie nights, or Concerts, Major Sporting events and you're bulb with last much longer.
Prices on replacement lamps can run $250-$450 (depending on model)
...and some are only good for 2000 hours (despite manufacturers claims of up to 4K)