Sony VPL-HW50ES Projector:
Pros
Not fully updated yet:
One of the brighter 3D capable projectors under $5000
Almost 1000 lumens in "best" mode, no problem, even with large screens (ie: 10+ feet wide)
Excellent overall color, and skin tones
Lots of preset image modes
Calibrates beautifully for really good color handling, natural look
Good shadow detail, really good black levels
Very good placement flexibility
HDMI 1.4a inputs (2) allows for support for Blu-ray 3D content
3D glasses provided (2 pair)
Very good CFI (motion smoothing) MotionFlow
Reality Creation really raises the bar for dynamic sharpening and detail enhancement
Get extra brightness in 3D with glasses control (but more image noise)
Excellent warranty
Fairly quiet, even at full power
Really good remote control
Near black finish works well in dedicated theaters
Very good menu layout, very good manual
Price performance
Above, Dumbledore - Harry Potter, HW50ES projector looks great on this extemely dark scene that shows off blacks and shadow details.
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Sony VPL-HW50ES Projector:
Cons
Lacks lens memory for the small slice of people who would prefer a 2.35:1 screen instead of the standard 16:9 screens
Others offer lamps with longer claimed life, so you have a higher cost of operation
I still don't like the Reset button where it is on the remote control
Could use a third HDMI input, could offer wireless HDMI... (and other wish list items)
And of course, this projector could be brighter - I'm thinking primarily for 3D, but also for non-theater placement
Lens shift controls a little stiff, not real smooth (picky, picky)