OK, lets look at this one from a livability standpoint.
It has vertical lens shift (but no horizontal). That means you can have some flexibility in placing the projector high in the room, though the lack of horizontal means it must be centered on the screen.
DLP tends to give a really good contrast level, but some people see rainbows from the spinning color wheel. You don't tend to know you are susceptible until you see them, and then you can never ignore them.
The projector is 3-D, but requires expensive active glasses. The projector is $3k and that is a good middle price for a step up theater, but the glasses are $200/pair plus another $100 for the emitter to control the glasses. So figure you will want 4 pair or add $900 to the tab, or ignore 3D.
The projector comes with a spare bulb. Good thing, because the replacement is a whopping $350 on the Mitsubushi website. It is likely to be had cheaper elsewhere, but as others have discovered there are dragons out there for the unwary. Buying the factory bulb is a safe choice. Many of the asian replacements have extremely short lives.
The trow range of 1.4 - 2.1 is nice. It allows flexibility in how far back to place the projector.
There is a low setting for the bulb that significantly increases life at the cost of brightness. This isn't the brightest projector around, but is adequate in a darkened room at low setting.
None of this is a deal breaker, but stuff you should be aware of. If you are looking for a sub-$3000 projector, this one should be on the list, especially if you are mostly want to view 2D, but want to keep your options open.