FWIW I built my screen on Saturday...
I decided to risk using some 33mm x 15mm wood that I had kicking around - I figured I can always build a sturdier frame and reuse the fabric if this warps.
I used mitres and L brackets in the corners to hold in place. I didn't have a large enough flat area to do the woodwork in, that lead to a fair bit of swearing trying to get the thing square - if you can do all the work on the floor!
I constructed a 4:3 frame that was 180cm x 135cm + 3.3cm all round (the width of the timber) intending to use that as a slim black border. After the baby was in bed and my partner had gone out

I dismantled the blind and laid it out in the lounge.
Then I brought the frame up from the basement and discovered if it was a few centimetres bigger it wouldn't have gone up the stairs

At this point I discovered that the blind fabric wasn't actually 200cm long, more like 185cm

. I unpicked the wooden bar at the bottom of the blind but the holes that left behind looked like they'd make great perforations when I tried to tension the fabric

so time to rethink.
Back to the basement and I cut down the frame to 175cm x 131.25cm

- well somewhere near that. Then I relayed the frame over the fabric. Following these instructions as best I could
http://www.rexart.com/stretching.html. I gently tensioned the fabric holding it in place with brass drawing pins in the back of the frame.
After about 15 minutes of work I had the fabric fairly taut and I trimmed off the excess fabric from the back - it cuts really easily with a craft knife. I had intended to staple the fabric in place after getting it taut with drawing pins, but they were holding and I figured I might want to restretch it later.
I put the screen up and noticed that there are some minor wrinkles in the middle of the long sides at the top and bottom. I missed the part about temporarily tacking the corners once you have the first pins in the centre of the long and short sides -this may well have been the problem.
I added another battern in the centre cut a couple of millimetres longer than the gap so it tensions the frame. It also adds a handy place to hold the frame and somewhere for the frame to rest on the front of the TV.
I powered up the PJ and the wrinkles aren't noticeable. If I could I would redo the stretching with two people. I'll probably buy a proper collapsable screen at some point in the future but for £20 it's very hard to beat!
I got the PJ mounted on the wall yesterday, inverted and a couple of metres up the wall on a speaker bracket. I need to align it a little more carefully as the 4:3 image is about 2 inches too low, but the image fills the frame completely with virtually no overspill.
We watched DareDevil last night and I was very pleased indeed - I thought the film was a bit poor (impluse buy) but the big screen at home takes some beating!
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