My biz is renting high end LCD projectors. One thing that keeps me from having one in my house for gaming is the lack of fine detail.
It looks nice to have a screen the size of a wall but if you get that size by accepting lower detail then you might like it.
The problem is that with the lower end PJ's there aren't enough elements to give the fine detail needed to see con dots well and when the con gets into range where you can see the shape the detail is dissapointing compaired to a CRT screen...too me anyway.
Everytime I set one up thinking that this one will be acceptable for AH over the last one I always revert back to my 19" CRT monitor. Even my BARCO 5000's, these are $35K PJ's, don't have the fine resolution I want for AH...bright as hell though, something like 5K lumens. I tried the Barco SLM Performer, a $56K machine at 10K lumens, and had the same problems.
With games where fine detail isn't so important LCD's are great, there's nothing like driving a race or flight sim on a big screen except for the car/airsick prone.
When buying a LCD look at the number of elements < this will usualy show xx# pixels x3 > and the lumens as well as max resolution and V scan rate. Most consumer LCD's have low max scan rates at high rez.
One last thing about LCD PJ's, the bulb life averages at 300-450 hours for most consumer products. The replacement cost can range from $125 to $450, if you use it for more than 3 hours a day you'll have to replace the bulb 2x a year.
My sugestion would be to try to rent the model you want or atleast get a free trial before you buy.