Hi guys,
As an update I gave up on not using the geometric correction. My wall is wobbly and the screen itself is not really straight (really unhappy with my Hivilux screen), so getting things straight without using the software adjustment is... well... impossible.
I know for a fact that it's not a P2 issue since I manage a perfectly aligned 120" image in my bedroom's wall. But in the living room it's just impossible. So I'm stuck with 100+ms of input lag
I have also tested Dynamic Black in setting 1extensively, and it is really unusable due to how visible it is when it kicks in. I even see the pumping when the subtitles kick in during a dark scene, although this happens very rarely. I think the added luminosity from the subtitles makes it turn off, and then once the subtitles disappear DB kicks in again (my kids still need subtitles btw). I'm not sure why some people don't notice it, but it really ruins the experience for me. So it's always off.
Would I still get the P2 knowing this? Well, it would have made my decision harder to be honest, and I would probably have leaned more towards the Epson LS500. But despite not being able to use DB I'm really happy with the image quality and with how super quiet it is. It's become a great living room addition, everyone is thoroughly enjoying it, and guests are wowed at the image size and picture quality.
By the way, those of you planning for a tailor made furniture might want to first install the projector and then take measurements. My P2 sends the image somewhat to the right, so it is never centered, and from what I've read it's often the case. Also, the height and distance to the wall is not exactly the same as mentioned in the manual, it can vary from unit to unit. And since every millimetre makes a difference, planning ahead of receiving the projector is risky at best.
Actually, adjusting the screen height is the most painful thing about it if you have a fixed screen that doesn't allow for some flexibility (as is the case with my Hivilux, which I really do not recommend).