I just received my HD1000U yesterday, and watched "The 5th Element" last night. I'm blown away. I can't find anything to complain about.
My current setup is pretty crude (will improve over the next few weeks as more equipment shows up.) I don't have a screen yet, so I'm just projecting on a blank wall, textured and painted a dark gold color. I don't have a progressive DVD player yet, and just used component video cables to hook an old Sony DVD player directly to the projector.
My expectations for this temporary arrangement were extremely low, but from 14 feet, with a 120" picture, it still looked extremely good. I certainly don't expect it to get worse with a screen, decent DVD player, etc.
I have a 100% light-controlled room, and can easily use low-power mode, even, to some degree, with the lights on. Currently, the pj and DVD are sitting right next to me on the sectional, and I can't hear the fan if there's any audio on the movie at all. Its slightly more noticable in high-power mode, but once its hanging from the ceiling I don't expect I'll be able to hear it.
A comment about the warranty: I've heard a lot of people complain that Mitsubishi only offer a 1 year warranty. But sitting here reading the -Mitsubishi- warranty, it says there is a 3-year factory warranty on the projector, and a 90-day warranty on the bulb. As far as I can tell, a 3-year warranty is pretty close to a "lifetime" warranty.
Regarding the offset: this is not a problem for me, I was planning on hanging it from a 10' ceiling. But I did the algebra anyway. If I did the math correctly, for a ceiling mount, there's about a ~6.5 degree offset to the top of the screen, and ~24.5 degree offset to the bottom of the screen. It turns out this is just about perfect for my theater, so I find it hard to complain about it. :-)
Overall: bright, quiet, sharp, great contrast/blacks, great color, good warranty. I'd highly recommend this projector. As I get the ht built out, I'll post more comments/pics.