Yes the Sony 40ES is a great "budget" projector (think it cost me €2300 at the time), having owned one for over a year, massive step up in picture quality (black/white contrast especially seen in credits) from the LCD tech of cheaper models (used to own an Epson).
Only thing I'd really like from the way more expensive JVC is the lens memory/motorised lens features and sharper lens (although for sport lens memory is pointless as all is 16:9 anyway).
Anyway Sky Sports F1 and other big events look great on it to be sure - much bigger viewing impact than any tiny 50" TV (4k / UHD or otherwise IMO).
You do need light control though to get best out of any PJ - my room has blackout blinds in rails behind curtains that will turn the sunniest summer day into pitch black in an instant - if you can't remove light from room, you are not getting best from image.
I have a Sony 40ES in a bat cave and although it is damned impressive with movies, the football on Sky HD is poor in my opinion. As I've got older I tend to watch more footy than films but will always watch the footy on my 46 inch plasma.
My next display will be at minimum a 65 inch television.
Maybe I am too fussy or maybe I haven't set the PJ up properly. Just speaking as I find because it is my main frustration with my AV hobby.