I have extensively researched the differences between the Panny and the Epson and I think in general you'll find that both are very good and well reviewed. I've read as many reviews that rate the Epson higher than the Panny as the other way around, so for me it came down to a couple of things, from which I had to choose the lesser of two evils.
1) The Panasonic has a LOT of reports on AVS forums about people getting nasty irreversible dust blobs in their projector. This makes me nervous.
2) The Epson is reported as having higher fan noise (albeit only slightly higher). This to me is annoying, but after asking directly on a number of forums, the consensus seems to be that unless your in high altitude, the noise is there, but almost inaudible in most situations other than very quiet movie scenes (if the projector is near your viewing position).
3) This really wasn't a huge factor for me, but the Epson is a little more flexible with greater zoom range and offset capabilities for tough mount positions.
For me, I chose dealing with #2 over #1 as #1 scared me more... I didn't obsess about the picture quality reviews because they were all SO similar. I figured I'd be blown away with picture quality either way. (Mine arrives in the next week or two)
If you end up wanting to get this projector, let me know, I got a great deal from AVS Forum and would be happy to give you the info to get the same deal.
A great review, I think the best I found, is the one here:
Art's Epson 1080 UB Review Note this is for the Home version, which is the same PJ in a different housing (black vs. white).
This section is by far the most applicable:
HC1080UB projector vs. Panasonic PT-AE2000U
The Panasonic is a very good projector, and one that I like to describe as very film like. It also has some great controls (including their waveform generator) for those who like to play around with their hardware, almost as much (or more) as watching content. The Panasonic does produce a most enjoyable "film-like" image to watch. The Epson HC1080UB, though, in my opinion, has the advantage in almost every area. it's sharper, has better blacks, at least as good in terms of shadow details, and its zoom has a little more range. (And don't forget the better warranty.) The typical Epson HC1080UB image has richer colors in dark areas, which generally leads to descriptions such as "eye-popping color", or wow factor. By comparison, the Panasonic image might be described as natural and laid-back, and the Epson - rich and dynamic.
One particular advantage of the Panasonic, though, is its support for an anamorphic lens for those wanting a Cinemascope 2.35:1 aspect ratio. That's one thing the Epson doesn't do! The Panasonic also has a bit more vertical lens shift range, but that will only appeal to those ceiling mounting, with high ceilings.
As I said elsewhere, the Epson is rather noisy for an LCD projector. The Panasonic on the other hand, is one of the very quietest. If noise aversion is your thing, that's a big plus for the Panasonic.
From a standpoint of personal preference, my vote is definitely for the Epson Home Cinema 1080UB. I really enjoyed watching the Panasonic, but I loved the Epson.
Have fun shopping. I think you'll be very happy either way.
