@Allan
This is my first pj, so take this as just an opinion of a newbie. I'm comparing this vs my 42in LED TV. Projecting to a 120inch screen. Walls are dark blue all around with little ambient light.
Out of the box impression is stunning. 1080p content is as sharp as my 42in LED tv, but, with a smoother texture (filmlike?), even with some ambient light. Before buying this, I was also looking at a 60in LED tv. I noticed in the showrooms that LED tv's on 60in sizes are very sharp to the point of looking cartoonish (can see th jaggedness on the edge of the images). The LED TV may be calibrated to soften this image, but this pj delivers filmlike quality on a bigger scale.
Switched to ECO mode and the pq is still excellent. Turned off Brialliantcolor to lower the brightness further (lesser power consumption) and the pq became a litte dull with ambient light. On totally dark room, Brilliantcolor OFF and ECO mode ON worked great.
Had my son play XBOX games (NBA, Halo, DOA) and no game lags observed.
Built-in speaker is disappointing. Not really enough volume (2 W) to be usable.
Rainbow-effects... Observed this only on some scenes with fast moving white and blacks (e.g. The first part of the movie Equilibrium where a gunfight happened on a dark room). Not noticeable on subtitles. In my experience, I barely notice RBE.
Very satisfied so far!