I think it will depend on your room and how much ambient light you either need or can block out.
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If your going to watch a lot of tv on it, I'd go with the TV...projector bulbs are not cheap.
If you don't care about bulb use ($$$)...easy, get a projector.
I watch normal tv on my rptv in the living room, movies, and special hi-def programs (mostly sports) in my audio room.
No one in my family would rather watch a good movie on the RPTV.
I watch a projector (123" screen) exclusively. It is ok with light in the room but great with darkened room. I only have two windows therefore it is easy to black out. I will never go back to a TV. Generally the projectors are cheaper, larger and have great picture quality. Mine is 1270x720 resolution. I may upgrade to higher resolution when blu rey or HD DVD is established and has more titles and when the price of the higher resolution machines come down in price. For current television I don't think you would see much difference with higher resolution. If I had a large amount of light coming into the room I might have a different perspective. See projectorcentral.com for much more information on the subject.
Have you viewed both? How does the projector resolution stack up? If the Yamaha picture compares well in real world viewing, and you have the proper room, go for it. I have seen spectacular projector image and also some not so hot, never seen the Yamaha so I cant comment. If the image is not in the same league as the TV you may end up regretting choosing the projector. 1080 RPTVs can produce beautiful image and 73" is big unless you have a lot of space. You may kick yourself wishing for the bigger experience, but then again you might end up unsatisfied with the contrast and resolution. View both and remember, size matters, but so does performance.
Have you included the price of a screen in your calculations? A 100" Stewart fixed FireHawk is likely to cost at least $1500. With the 1080p Sony Ruby selling for around $3K, why would you consider a 720p projector? I think an LCD or plasma TV on a stand that can be rolled aside for projection is ideal, 'cause I wouldn't want to watch the PBS Evening News, the Daily Show, and the Colbert Report on a projector in a dark room.
Once you use a projector there is no going back especially if you can control the ambient light in your room and you have a good source.
We use the plasmas in our house for regular TV viewing but movies are in our movie room where the projector resides.
PS get a Blue ray or HD DVD or better yet get both you will love the improvement over SD DVD.
Audiotomb: I disagree.... about color pop like a plasma... if you get the right screen an LCD projector can pop in color like a plasma and not have the green and red push problems of a plasma. Black level isn't CRT level but neither is Plasma... But I have never missed anything with my projector tuned up with Avia or Digital Essentials. This is a critical setup feature to get the details in the blacks right.
Answer Vultec Silverstar Screen!!! Outstanding in a darkened room. Colors jump from the screen and are visible from any angle!
1080p is great on a 58" if you sit 6-8 feet away otherwise it's a waste of money. I use a 37" 1080p LCD monitor at 3' for my computer and that rocks!
Snooker14: Congrats on going with a Projector now you will never go back!
Audiotomb you brought up another excellent point which is how good is the scaler in the TV sets. Ok I Over generalized for most people (I do prefer a big presentation) but what makes 1080p look good is how close you view it... if you are seeing artifacts on a 1080i then the scaler in the lower end set is to blame or the source. 1080p tv will in general have a better scaler.
I highly highly recommend checking scaler quality or going external (Lumagen, DVDO, etc.) as this was the most amazing upgrade for my system. on my 103" I don't see artifacts with my 720p projector and that's impressive.. if I were to hook my cable box directly up to my PJ it would be block city and tons of panning motion artifacts even on HDTV. My old 720p DLP optoma projector had an excellent Scaler, my current Sanyo Z4 LCD has an awful scaler.
So if you can watch the set you want to buy with an OTA signal, bring a DVD player or have them hook up a dvd you are familiar with and look for jaggies, blurring in the backgrounds, etc... artifacts like these are annoying.