There is not much difference between them in picture quality, it is more about how they are bundled. The 6030 comes with a Chief ceiling Mount with plate, an extra bulb, a cable cover for a neater installation and a 3 year warranty vs. 2 year on the 5030. The 6030 is black and the 5030 is white if that matters. The 6030 is your only option if you plan on using an anamorphic lens. The 6030 is not sold on the internet so you will have to find local dealers for pricing but sometimes you can find some good deals. Right now the 5030 comes with an extra lamp so the difference is not worth as much currently.