100% ignore the 'brightness' on the projection calculator. The calculator is based on manufacturer data of actual lumen output, which is not even close to accurate after you calibrate the projector to more reasonable brightness and contrast levels. Figure 400 or so lumens from most projectors which is about half - and well within the range of what is listed.
In the end, if you find the image to be to bright, then there are filters that you can put onto the lens that will cut light and preserve image quality. In fact, since most projectors don't have 'perfect' color, the filter you add may have a bit of color to it to help correct for color issues with the projector. Usually just a very minor correction within the filter, but it will cut light and improve overall quality.
Note: Sanyo Z4 (not Sharp) and the Z3 was last years model, I would go with this years model if I were buying right now.
If the 7700 fits your range accurately - then that is the way I would go I think. DLP is gorgeous and most people aren't affected by rainbows with DLP - but you should try to confirm that at a store if you can.