Depends what you like. If you like having big windows and natural light while you watch TV, then don't go with the projector. My uncle has it in his walkout basement, and he has to cover all his windows to make sure minimal light gets in. It's perpetually dark in his basement. I dunno, I'm not a big fan of that. I like having natural light and not feel like I'm in cave, especially when I'm watching tv during the day.
Oh, and if you have young kids and want to watch tv with them, then I'm not sure it's a good idea. My cousin had his toddler down there when we were watching a Flames game, and he got freaked out because it was so dark. He started crying when the Flames scored because of the sudden cheer along with the darkness of the room.
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