Im in a similar boat, debating between a projector or a RPTV ...
keep in mind, not many HDTV channels are out there and even fewer broadcast full time... i know tis will change in the future... but a 61" 4:3 will run less than a 57" 16:9, and in 16:9 mode the viewing size is similar, i believe i jsut measured 56" on my mothers TV... that said, 4:3 programming (MOST of the programming available) will be smaller on the 16:9 tv... also, out Sony 61" that i am using hasnt had a single issue in 4 years, they are pretty durable these days.
Im looking into projectors as well, although my room size will limit the X1 to a 78" screen ( i know, TINY!)... but i think i may check out a benq6200, as this supports XGA resolution so it will be better for HDTV. the X1 has a visible screendoor effect at 80", but i didnt really notice the rainbow effect or get a huge headache, from my experience... i think the 6200 is running for 1169 after rebate which is a good steal... but remember that standard TV will look like crap and new bulbs after 2-3000 hours run abour 3-400bucks. Thats an extra 400dollars every 2.5 years (3hr/day), so over 5 years it will be 1169+800= almost $2,000. add the price of a screen, 200 or so, and ur at $2200, where the RPTV will not cost an extra money.
I think if i find a 65"RPTV for a bargain im gonan jump on that. of course i may move apartments where i could get a screen up to 130" in the future and i already have a 32" mitsubishi i could use for regular viewing....hmmm