I would go with the Panasonic AX100 over the Sanyo Z5 in a second. The Sanyo has a bit more lens shift, but I think Panasonic simply makes a better overall product.
I would also go with a 106" diagonal screen at 11' viewing range, which is about where you are at.
The projector can be about 10.5 to 21 feet away from a 106" diagonal screen.
The top of the screen can be, at most, just a few inches below the center of the lens with the AX100. The Sanyo has a bit more lens shift and the projector can be placed about 50% screen height above the top of the image. On a 106" screen, this is over 2' above the screen.
Your screen placement seems low to me. I would sit down in your chair in the room and see where your eyes feel comfortable, then that is where the center or upper 2/3 point of the screen should fall. 4'? That may work actually, but it is much more personal preference than 'set in stone'.