As others have said, room size, size of screen, or wall (and therefore projector throw ratio) and ambient light will all will have an influence on what you choose. After lots of research with the same budget as you, I ended up purchasing the Optoma HD 39 Darbee. It suited my room size with throw ratio and worked very well for movies at night projecting onto a very light green wall (I only use mine at night for movies) (I found Projector Central to have good in depth reviews on many PJ models). I toyed with the idea of saving some more $, and going to 4k, but it just didn't seem worth it yet to me. Not to mention, I would also then have to update my blu ray collection to 4k bluray, which would add further to the cost. I upgraded from an old epson PJ but it was only 720p resolution. I've been very happy with the Optoma, throws a great picture. Nice and quiet on eco mode (which at night is all you need, I didn't like the dynamic contrast picture setting ) No issues with rainbows for me, or anyone watching it. I quite like the darbee settings, gives really nice definition to movies. I use the lens shift Due the the loungeroom shape and size + ceiling fans on the roof (welcome to Cairns!) I couldnt roof mount it, and I didn't like it on the coffee table in front of me. I ended up positioning it just above head height behind the couch on a pedestal which is 5m away from the front wall. My image size is about 120" (305cm) diagonal from this distance. Daytime viewing is a bit average, as my room is very bright, and there wasn't much point is getting block out curtains as I don't usually get a chance to sit down during the day with kids and work etc. I use a TV that sits on top of my centre speaker for general TV viewing, then take it down if I'm watching a movie on the PJ at night.