Well this thread got over 100 views but no responses, since I changed the AE700 to an AX100 I thought I'd give some rather amatuer comparisons.
First difference I noticed was the mounting plate for the ceiling mount - they've changed it

, so I visited
LMP who immediately sorted me out with a universal plate (very well made!).
Second difference - its even quieter than the '700 even in normal mode.
Thirdly - it looks better on the ceiling thanks to it being white and even though its quite a lot bigger than the '700, the AX100 looks pretty good...not that anyone should buy a projector for that reason
So I set about taking some comparison shots - I know they're not absolutely identical (although all within less than a second of each other) but the camera's settings where left exactly the same - so the differences you see are the real deal....
AE700 on the left ------- AX100 on the right
To be honest, I thought the initial difference when I first set it up would be more obvious. However the more I watch it, the more I appreciate the subtle improvements (better contrast, better in ambient light, quieter, slightly brighter, better colour balance and
no vertical banding

). I still think I'll take the 1080 route in the next 18 months, but for now I'm content.
Oh and my x360 HD DVD drive turned up after I'd taken the ae700 down, so I couldn't compare the differences, but King Kong on the ax100 is simply amazing. Shame it's such a poor film