I have a Sanyo Z5 720p on a 100" screen in my mancave and a 56" LED backlit Toshiba in the living room. When people see the Toshiba they say,' Nice TV !'
When they see the projector,they say 'OMG ! Thats amazing !'
I notice the PQ difference from a critiquing point of view, but when it comes to 'experiancing' a movie, nothing can beat the immersion of a 100+" screen and a good sound system. To get the kind of contrast you desire, you are going to have to go into the $3000+ range of projectors. To the average joe our projectors will more than impress, but once you've been into this hobby for awhile you start to desire the higher end stuff and what our budget limits us too. I researched projectors for months before I settled on my Z5. It was the best bang for my dollar and room size and five years later I'm looking for something better with 3D. That means I gotta start saving my pennies and decide which of my hobbies my limited funding goes towards.
In summation I just say, enjoy the experience the huge picture your projector gives you and stop nit picking at the small stuff. There will always be something newwer and better that we wish we could afford or have.
Sanyo Z5 HD Projector w/100" screen