Hi Jimmy, im on my way out now, but just on a quick point. I have that projector and have had it for sometime. Its amazing - really is.
Light - not much visible light in the projection stream, not noticeable anyway to me. It should be clear though u are probably aware of it when watchin that.
Fan noise - Run it in economy mode - better contrast - Have a look at my thread on setting up projectors.
Projector Beam with A/C - I cant see any problem with this, but i wouldnt knof for sure.
Component Video - Again i use my Projector connected to a
Progressive Scanning DVD player with component connections for the best quality - i recommend you do this.
Resoultion - I belive u need ur resolution to be set no higher than that of the Panasonic, again this i something i dont deal with so im not familiar
Movies - You will notice massive quality problems with DivX and Xvid. Also, you really should try and get a
Progressive scan image to the projector as
interlaced is very different for quality
Cables - its a funny thing - some say important, some not. However, i am a firm believer in high quality components. I recommend the Cambridge Audio Component Video cables at about $200. You can get other cables such as Q.E.D Silver ones at higher prices, but i dont think thats worth it. That price was for 5metres, converted from British Punds sterling that i paid for mine. 5 metres is fine for quality - the cable mentioned is extremely good at keeping out unwanted noise etc...
Shelf Clearance. If you can keep atleast 5 inches from the wall it would be ideal. However, it can operate slightly closer than that, considering your house is air-condition. The heat generated is quait a lot, but it has good fans to remove it. Sometimes by placing plastic channels at the back so that the heat is directed of these and out the side fo the shelf will help. DIY them yourself - very easy
Screen - if you are DIY'ing it - i would tend to use a fabric stretched super tight over 4 pieces of wood arounf the border. You can use the custom paint over this to get a better effect. Screens are important. Have a look at the different materials you can get. With a screen you can really make a difference to the contrast with levels of gain. Get it as you would like it.
Size - I watch movies from only 2 metres from the screen on a 70" screen (between 60-80, depending on my mood). Sometimes this can be a bit close. However, at 3 metres, using Component cables and a high quality
Progressive scanning dvd player (Pioner DVD565 or something) i think you will be very pleased with the quality and lack of screen door effect evident.
Finally, Dead pixels have not been a problem with me. They are not covered by the warranty and are accepted as something that can happen. More likely though are dust blobs, which can be cleaned, though quite technical to do. I have had my Panasonic for around 400 hours of use and not a single problem yet
A really recommend getting a calibration disc though to set it up perfectly. I was disappointed when i first saw my picture, it was horrible on all of the pre-set modes. With the calibration disc i got it set up so it is perfect. now i hardly bother going to the cinema, with my 7.1 Surround system it is amazing.
Best of luck