I have seen both the M10S (without an iScan) and the LP340.
The M10S has better color, better contrast, and better blacks. The internal scaler was very poor. The image through S-video was very, very, soft. It was really unwatchable. An iScan may help this quite a bit as indicated by others in the forum.
The LP340 has a great internal scaler, but I wasn't very happy with the color (yellows tended toward green) and the black level was poor for a DLP. It does have longer bulb life if that matters to you.
Personally, I'd wait for a few weeks and see if Infocus says anything new about their HT projectors.
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