First, this isn't directed specifially to the poster because he seems to know a thing or two about projectors. I'm posting this mainly for any new visitors who might have some questions about contrast and black levels.
Blacks are the "holy grail" of digital projectors. It can happen...the technology is getting there, but it's just not here yet. The JVC DLA-RS1 can supposedly create true blacks, so maybe it's here now...I don't know. Haven't seen the thing in action.
You have to understand that contrast ratio doesn't necessarily represent how black your blacks are, or how white your whites are. It just represents the span between the darkest black you can get from the projector to the whitest white. The higher the contrast ratio, the larger the span.
That's why some LCD projectors have such high contrast ratios. DLP will in most cases give you better blacks. But if the contrast ratio is low, you may not enjoy the picture as much as you would an LCD with moderate blacks and a higher contrast. If you had a projector that produced pitch black blacks, but the whites were somewhat gray, then you could brag all day about how deep the blacks are but you'd still have a dim flat picture because of the lousy contrast and crappy whites!
You never see anybody talking about white levels because of course, these things shoot light....so whites are easy. The problem is getting the light to stop shining where something should be dark or black. This is where DLP has the advantage; by in a sense being able to "turn the pixel off" by pointing the mirror away. LCD pixels simply go dark, but they are transparent and some light always works its way though (these are pretty bright bulbs we're talking about). This is why the more recent LCD projectors use irises to cut light output and improve contrast...but hey...whatever works! As long as I enjoy the picture on the screen I don't care what you do inside the projector!
Anyway, if blacks, longevity, and less screen door are the most important factor in a good projector to you then DLP is probably your better choice. If placement flexability, better colors, and no rainbows are where it's at...go LCD. It's all a trade off. Either way just enjoy what you get and try not to be as nit-picky as we are!