I have a 50" RPTV and we sit between 10-12' away ( as you should with a screen that big or bigger). It is only a 720p but looks amazing ! There was a study done recently that said the majority of HDTV users sit too far away from their TVs to notice a difference between 720 and 1080p. You got a screaming deal at that price though for a 50".
I will be buying a 1080p projector next time around as the prices have dropped a lot and I have a 100" screen looking to go up to 120"

At 10-11 feet, viewing my screen you can notice a slight SDE with the 720. However if its just two of us watching and no other chairs are thrown in so others can watch, then you dont notice the SDE at all.


Sanyo Z5 HD Projector w/100" screen
Yamaha RXV-663,BD30,HD-A30
Toshiba 55SV670U
M60s
VP150
QS8s