I've had a projector for about 6 years and love it.
The $300.00 thing is a scam however, hope you didn't commit to purchase.
I spent about 3 grand, but that runs a 2000 lumen projector on a 92" da-lite high contrast grey screen (keep the screen smaller so the image really pops). Projectors are awesome, but about every 2-3 years I have to spring for a new bulb (about 200 bucks). HD programming, games, and blu-ray are just amazing.