I did not wire anything into the ceiling of the HT to accept a projector because I thought I would be getting a RP. CAn I get comparable pic quality in a FP as I would in a RP.
In a dedicated home theater (read: LIGHT CONTROL!) you get results which typically rival those of your local cinema. Following THX guidelines of using a screen which is about .66x your seating distance in width you will have an image that is visually stunning. Smaller will produce an even better appearing image, but may not be as immersive or what you prefer.
There is tons of information available on making your own home theater and for most people who do end up going with front projection they have a hard time calling anything less than 100" 'home theater'. Plasma and LCD users sitting with 50" or so displays are TVs, not home theater. Granted, they may be great setups, but if you want a home theater, then do a home theater - not a TV, and front projection is the way to go.
Quality? Your rear projection Mitsubishi is going to be using a very similar projector to that which they sell as their home theater projector. It's a quality unit, and full 1080p, so the quality is basically identical - but bigger.
The photos here are using a 960x540 projector -
http://www.avintegrated.com/lighting.html to give you an example of what different things look like under different controlled lighting.
It needs to be 1080p, watch sports, F!, but mostly movies.
Any 1080p projector can do this, so read the reviews to find one which will match your budget and room appropriately. For $2,500 (projector only) you can get the Epson 6500UB or the Panasonic AE3000 both of which are very good 1080p models. The 6100 and other cheaper models are good, but not in the same class as those two, but will save you some cash if $2,500 is a hard budget.
I have about 11 feet of usable space for a screen.
11' wide WITH speakers on either side? That's a really large screen and would be viewed, typically, from about 16-18 feet away. If you don't have the much viewing distance, but are sitting at about 10' to 12' away, you probably want about a 100" to 120" diagonal. Screen size is VERY much personal preference, but should be considered as your preference not simply as the 'biggest you can go with' - as bigger isn't always better.
Either did I at one point, this is how it starts - just ask questions.
I know I would like to get a nice fixed screen but it seems like the bill would be going up and up.
There are lesser expensive solutions, some of which were listed above. But, I would NOT use a silver edged screen but a black velvet one. On the cheaper (but still decent) side of things, Focupix has a decent model which is available with black velvet trim and can be paired with the AE3000 6500UB or 6100 projectors no issue at all.
I am not one of these "philes" that can notice the most minor thing in sound or picture.
Everyone actually is, but if you choose not to then you will be much happier.
I'm a big fan of enjoy it first, nitpick it later.
I just want good picture quality while watching HD, blue ray, and normal TV viewing.
HD & Blu-ray will be excellent. Normal, standard definition, TV will not look good, but wouldn't look good on a 73" Mits either. It just doesn't look good. But, if you know that, then you will be fine.
Since the ceilings are already painted I do not want to fish lines through them. Can I run external wire channeling and paint it the same black and red color?
Depending on your wall design you may prefer to simply cut a few holes then spackle, but if not, then you can always get surface mount conduit.
http://www.electriduct.com/Raceways-Wire-Duct_c_122.html
Not as clean as hiding it all, but when done well, it looks fine, and depending on the layout of the room and which projector you get, you may be able to place the projector at/near the far back of the room.
Any body have a diagram of all the s#%* I will have to hook up to the FP.
Every projector comes with diagrams, but a list is usually easier.
This is the minimum:
1 - Power Connection
1 - HDMI Connection (from receiver) for your HD viewing
Recommended:
1 - Component video connection (in case you have any HDMI issues)
1 - Composite video connection (legacy - just in case)
3 - CAT-5 (or CAT-6) raw cable runs (you can run almost any A/V source over Cat-5!)
1 - VGA cable - for your computer connection
If you run conduit, then just run the basics and add cabling later if you need/want to.
Most people who own, or have ever owned, a decent front projection setup will tell you the same thing... ABSOLUTELY! Front projection is home theater in all the ways that everything else comes up short. It produces truly stunning image quality and makes you wonder if you will ever go to the theater again because you will be sitting in the best seat in the house.
One thing that was not really touched on was that I am assuming that you already have an A/V receiver and 5.1 (or more) audio setup and that the $2,500 budget you had did NOT include audio requirements as this will cost a fair bit as well and is typically handled separately with its own budget.
