We can answer your question over at
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The screen coatings available over the last couple of years have come a long way in preserving contrast in bright environments. A mid- to high-contrast, low-lumens, projector with a modern screen produces a projected image that almost needs ambient light in order for the viewing to be comfortable.

Thanks so much for the reply. I would definitely consider getting a large LED TV, but in my current TV room it just isn't possible. All of our furniture is positioned off to the side, so I need a TV with a perfect viewing angle. I currently have a plasma, but I've had it for a good seven years. I am looking for an alternative to TVs because I am just really not interested in spending a large amount of money on something that doesn't work 100% to my satisfaction.
I am hoping that a new OLED TV can eventually replace my plasma, but if not I will definitely want a projector.

About the only things that really ruin a front-projector setup are problems with light control. Any extraneous light sources will destroy contrast, as will light from the screen that is reflected back onto the screen from light-colored walls/floor/ceiling/people. Setting the screen back in a shadow box will help; a neutral grey screen will attenuate the unwanted light while still looking white if you have a sufficiently bright projector.
Given the crazy large LCD displays available, though, a front-projector is probably a bad idea. Bulb life measured in mere 100s of hours is usually an issue with projectors, and replacements can cost hundred$. LCD displays with LED backlighting ought to last thousands of hours.
Sound control is the next thing exterior grade doors , walls and ceilings mounted using acoustic isolation techniques like z-channel will help. And, the room dimensions matter; width, depth, height must not be simple multiples of one another to avoid unwanted room resonances.