I'm in a similar boat in that I originally wanted to go with a projector only for all TV/movie viewing. After researching online, I came to the conclusion that it probably wasn't the best thing to do based on bulb life expectancy/cost. My wife convinced me that a 60" RPTV was the way to go. It's bigger than what we currently have, but not as big as a nice sized screen. I was planning to go with a 96" screen. After researching the RPTV, it has similar issues with needing to replace the bulb. (My TV tends to stay on even when no one is watching...ie sleeping on couch.) This isn't a good thing when bulbs have a finite life expectancy.
After a significant amount of indecision, I finally decided (90% sure) that my best option is to keep my current CRT TV for regular viewing and to only use a projector for movies and HD shows. To accomplish this, as noted above, I plan on recessing my TV into the wall so that the front of the TV is flush with the wall. I also plan on doing the same with my audio cabinet. This will allow me to get an electric screen to drop down in front of the TV when needed.
Obviously, not everyone can do this so you have to figure out what works best for you in your environment.
I'm currently looking at the Panny AX100U and the Sanyo PLV-Z5. By the time I get all of this done and pull the trigger, those will be replaced with new models, I'm sure.
