Here is my argument for the projector. Mine is a Panasonic PT-AE1000E 1080p.
Just put this up this evening.
http://www.youtube.com/watch?v=S9hDHqpKKEE
Watching a 40 TV is like watching a postage stamp in the corner.
Crap like that makes me wish Id spent more time studying at school.
Wont physically fit in my living room though, most other people will have the same problem.