Panasonic PT-P1SDU Compact LCD Projector, my favorite technology primer site, has a review up of the Panasonic PT-P1SDU up today. I think there are better values out there then this particular $1200 800×600 projector. Entry level 720p projectors are right around in this price and are probably better bang for your buck. A quick look at the specs seem to verify my hunch. It has 1500 lumens light output, 400:1 contrast ratio, and few unexciting input connections (VGA, S-Video and composite).

From the article:

I found the colors on the PT-P1SDU to be visually accurate, however, with
just fair black levels and contrast. I also found that some color noise was
exhibited on reds and blues.Although lacking a true native Hi-def resolution display, I found the scaling
capability of the PT-P1SDU maintained good image detail from 720p and 1080i