It is one of the most popular projectors of the year...
I have installed one this year and was very impressed with the image quality of the projector. It is by far a crisper image than the Panasonic AE-900 delivers and the addition of the 2x zoom lens and a great deal of lens shift, means that it simply is one of the most versatile entry level projectors that I have ever seen.
The biggest downside? It's just not that bright! It isn't 'dim', but I wouldn't go above 100" I think if I wanted to maintain a really nice looking image with a good 'punch' to it. I would go with something different. Probably not the AE900, but one of the cheaper DLP models that have a lot more brightness.
Audioholics has a full site review:
http://www.audioholics.com/productreviews/avhardware/SanyoPLVZ4projectorreviewp1.php
Projector Central has reviews... (71 users + site review)
http://www.projectorcentral.com/Sanyo-PLV-Z4.htm