The Optoma looks terrible from when I saw it and the color wheel speed was not very good. It is very much designed as an entry level business class projector and the color reproduction of it and image quality certainly indicates as such.
I would recommend the cheaper DLP projectors which have just come to market, such as the BenQ W1070. It produces a very bright image with good color accuracy out of the box, similar reports with the new Optoma model (HD25). I ended up getting the BenQ in the first batch because I needed something cheap and am stunned with how good it does end up looking on a 161" screen in less than ideal conditions.
As long as the screen area is mostly shaded, you will be very happy with something like that. These models aren't 'dedicated-theater' worthy, but they are certainly ideal family room type projectors which can deliver the goods.
Plus, as it is available for about $900 it certainly gives you some wiggle room.
BenQ W1070 Full HD 1080p 3D DLP Home Entertainment Projector
This projector is simply killing when it comes to the general reviews and happiness of owners. I'm glad I lucked into being one of them.