BenQ W1110 is the Euro version of the HT2050 from what I recall.
I believe the Epson 5300 is the Euro version of the 2040.
You should pay most attention to reviews and nothing about advertising. The biggest difference between the BenQ and the Epson is the use of DLP technology (BenQ) vs. LCD technology (Epson). At this price point, DLP will have faster response time and will produce better black levels than LCD. LCD will be a touch brighter (maybe) and will have zero chance for any RBE (Rainbow Effect) issues.
Both are solid models, and I've owned both LCD and DLP as have countless others. Most people do find the image from DLP a bit better overall at this price point, which is why the HT2050 is so popular. A solid entry level model.
But, the 5300 or W1110 are solid choices and can handle an image up to (or beyond) 120" diagonal just fine.
Really though, the single biggest improvement you can make to any front projection setup is the room itself. Remember the last cinema you went to that had windows and was painted white with white ceilings? Either do I. Dark walls, dark ceiling, dark flooring is the single biggest improvement and impact you can have in any front projection setup. Just like acoustics are the most important thing in quality audio.