I bought myself a real grown up house in September. It's great but doesn't really have a ready-made spot for a Ridiculously Larger Than Necessary Television®, so I'm redoing a rooom downstairs to be a Media room. Erick, Fred, and Chris have front-projectors and they are totally the way to go if you've go the space (nevermind the money...). Chris has a good idea -- buy the reasonably priced InFocus X1 now, wait for the coming projector price collapse, then replace it in 18-24 months with a "nicer" one and still come out ahead. When I moved in, there was this built in down in the rec-room that had a TV in it.
I'm ripping that out so I can put a screen on the wall. I was going to wait until Kevin was in town but decided I'd do the demo today. It's fun breaking stuff.
Oh, and when people say how much work owning a house is, they're not kidding.