I bought the HS10 a couple of weeks ago - it's my 3. pj.
In my opinion it looks truly awesome with 16:9 DVD's - especially at this pricerange. Currently, it has no competitors in the wxga-projector class - Epson TW100 and Sanyo PVL60/70 are a lot more expensive.
I have seen other LCD's - wvga and wxga - by a direct comparison, the wxga HS10 is superior, but in the lower res. class pj's, there are very good machines at their respective pricetags - the Sanyo Z1, Panasonic AE200/300, Sony HS2 etc...
I have only seen 1 DLP machine sofar and I didn't like looking at the picture - it felt 'noisy' or too 'vibrant'. Fair to say, that was a 2000 model - the new batch will problaly be in better shape, but for me DLP is out. I suggest you see a DLP for yourself and figure out whether you are sensitive to the drawbacks of this otherwise excellent technology (headaches, rainbows etc.).
I can't tell you whether to buy a HS10 or a DLP because I don't know your references, but by my references the HS10 is a superb machine and for a first projector, it must be a blast!
no screendoor from, say 1.7* screenwidth and up
fannoise - a bit too noise during quiet scenes
blacklevel - fair but not as good as DLP
shadowdetail - fair but not as good as DLP
I hope this little info helped - go see the projectors for yourself before you buy if possible.
I've had my hs2 for three weeks now and have been very pleased with it . Total price £1340 that's projector and screen .It might not have the specs of the more expensive projectors . But it has impressed me and my family. Xmas has been great , Minority report looked great on it as has the Back to the future trilogy.I don't even to pretend to understand all the technical jargon ,all I know is that I love my projector .If I could have afforded more money I probably would have gone for the hs10 .Enjoy whatever you get .Cheers Murph