Whatever you choose don't forget to factor in good av equipment (receiver or separates, speakers, subwoofer)... A good picture with subpar sound is disapointing, and great sound can make a smaller picture more immersive. You would need a receiver at a minimum with a projector. Also those would require a hd box for tv/cable. If you go with a projector you will need long runs of cable and this can add up really fast cost wise. As stated before if done right it's much nicer than a tv. Sounds like with the cost you would be best off and most happy with a tv in this case.