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I don't think pico is what you really want for home theater. I think they are really just an alternative to hooking up an LCD for presentations. If you are really serious about a home theater projector that will be worthwhile you will be looking at around $1000. You might - might - be able to find a low lumen projector for low-light viewing only for around $800.
I've been watching and testing out these things for about 4 years now and can't find that balance between what I'm willing to pay and what I'm willing to settle for as far as final image quality. I would like something to replace the main family TV so it would be good for normal TV viewing along with "theater" style movie watching. If I was willing to hang black-out curtains in the windows of my living room and have a slightly blurry picture then I could have had my pick of any number of projectors running $200 to $600.
The search continues.
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