To a videophile who cut his or her teeth on CRT units, a 7-pound video projector that is no larger than a fat dictionary and can be mounted inconspicuously on a ceiling or table is hard to believe. It can even be stored out of sight and set up again, when needed, in minutes. How good can it be?

Let's talk value. Super-sizing may no longer be en vogue in the fast-food realm, but it's alive and well in the world of home theater. If you're trying to put together a dedicated theater on a budget, remember this simple formula: More screen size for less money means greater value.

Reviewing Optoma's H56 DLP front projector has been an issue of karma for me. The H56 has crossed my path several times in the past two months, the first time at the 2003 Consumer Electronics Show, where news of its debut was lost in a sea of PR from other companies. At the time, I paid it little attention.

In some respects, the Optoma HD20 is an exceptional value, providing a razor-sharp 1080p image for just about as little money as any projector I know of. It's overall detail and color are excellent via HDMI, and it offers extensive controls, surprisingly advanced features, and a well-organized user interface. However, the lack of lens shift makes placement difficult without invoking the keystone control that can degrade the detail a lot. And even if you solve that problem, the shadow detail is poor, which causes dark scenes have large areas of solid darkness rather than subtle low-level details. Finally, at the largest image size I could manage in our studio given the lack of lens shift, the black level was quite high, which means the black of space was dark gray and letterbox bars were obvious. For better performance in this critical area, a larger image is a must.

Sure, 1080p is getting all the buzz, but even the cheapest 1080p displays are still really pricey. For example, the lowest-priced 1080p projector is 4.5 times the price of this little Optoma. The HD70, while "only" 720p, has a distinction all its own that makes it one of the coolest products to come out in months: It's the lowest-priced HD projector ever.