Well I picked up my X1 last night at BB and I'm VERY pleased. I was extremely worried about the "Rainbow Effect", I'm a programmer and if my monitor is not syncing at 70 or above I get headaches, but I'm not bothered. I do se an occasional rainbow but don't find them to be distracting or a problem. I did the THX optimization tests on one of my DVD's, and during the aspect ratio test, yea, I saw rainbows like crazy, but during a film hardly at all. The image is amazing, watching credits the text is sharper then it was on my 27" tube, and I was projecting an image that was 7' across, 105' diag 4:3, or 96' diag 16:9, I'm so glad I finally pulled the trigger. I did find the ultimate "Rainbow" test DVD, The Nightmare Before Christmas, I did see Rainbows fairly frequently during that movie, but again, they were not especially bothersome. I also noticed that I saw more Rainbows as it got later into the night, and me and my eyes more tired.
Anyway, good luck in your search, you'll probably be happy with no matter what you end up with.
Barry, one very happy X1 owner.