The Z2 has known service issues. It was poorly designed which causes overheating to many units and the failure of an LCD panel.
Sanyo has been less than responsive in correcting this issue for many owners.
If you plan to watch a fair bit of HD television and upgrade to HD disc players and perhaps a HD gaming system, then I would find a way to get, at the very least, a Sanyo Z3 or Panny AE700U, both of which don't have the issues that the Z2 does have.
Otherwise, the InFocus SP4805 or Optoma H31 (or H27) are both excellent models. They just don't carry the resolution that you may really want to have down the road.
Read specs, info, and reviews at Projector Central if you haven't already.