720p has you looking in the 5-7 hundred range. Check out the Optoma HD66. If you need full 1080p, you're talking around $1,000ish. Check out the Optoma HD20, and the Epson 8350. As far as light goes, it depends on how much light you're talking about. If you want to do homework by light of a desk lamp, just about any projector out there will be fine. If you want to have all of your room lights on, you'll probably need to stay toward the upper end of the lumen range (1500 minimum, with 2000+ probably being better), but the ones I listed above should be fine. Basically, "controlled lighting" is the name of the game if you want a projector to look good. You don't need a dark room these days, but you still can't watch something in the middle of your solarium at high noon.

Miscellaneous notes:

- Buying a projector screen will help your picture a lot. There are quite a few kinds of screen out there, though, and you need to buy one to fit your projector. Some screens make your picture brighter, while others will improve your black levels and contrast ratios. It might be a good idea to buy your projector and use it on a white wall in a variety of lighting conditions. If the projector (on proper settings) seems too dim, consider a bright white screen. If things seem fuzzy, or you're bothered by black portions of the movie seeming too gray, you might be better off with some of the darker screens. Keep in mind that any screen will be an improvement, so don't be too picky. If you can't afford a screen, there are a lot of easy DIY instructions on the web. Everything from reflective paint to crushed glass sprinkles.

- Before buying a projector, make sure you know where you want to put it, as this can affect your choice of machine. Some projectors have lens shifting features that allow you to position your projector well off center, which is very convenient if you don't want to ceiling mount your projector, or put it on a coffee table right smack in the middle of your living room.

- avsforum.com is probably the best place (as far as the internet goes) to view "expert" opinions on projector models, but be careful of reading too much into the reviews there. You'll find a huge number of nitpickers that blow the tiniest issues way out of proportion.

Anyway, hope that helped some. Note that I don't actually own a projector myself (so take what I said with a grain of salt ). I've just been doing some research lately is all, since I plan to pick one up soon.