Here's the best resource when it comes to projectors
Last edited by SvennoJ - on 22 January 2019
I started with a CRT projector late 90's on white washed wall. It was awesome and it even worked flawlessly with NVidia's 3D shutter glasses, CRT = no lag. Of course nowadays it's LCD, LED, DLP or Laser, all with digital processing introducing lag. Some projectors can have 80ms display lag so beware when using it for gaming.
I've been using a Panasonic 1080p projector since 2008 which has served me well with ps3, ps4, x360, switch, blu-ray, tv. It's great. However it has now been surpassed by tvs. Projectors lack in contrast and brightness (depending on screen size), HDR is definitely not as good as on tv. To improve contrast and color it's best to get a screen with it and make sure you can darken the room. Ideally you do not want bright walls or ceilings as any light cast by the projector will bounce around the room and destroy your black level. That's also what a directional screen is good for, less light reflected to and back from the sides.
This is my (advanced) set up (92" screen)
Of course starting out with the projector on a table onto a white wall, you will be impressed no matter what. That up there is rather expensive lol. I've used it extensively for 10 years, then VR replaced it for a year and now I'm mostly gaming on 65" 4K HDR. My kids use it now for Fortnite and Terraria (4 player split screen is so awesome on a projector!)
Things to look out for, how long does the lamp last and how much do replacement lamps cost. (CAD 600 for that one above every 2000 hours, ouch) Some lamps last longer than others, some go less bright over time and you can still use them. I have no experience with LED however.
DLP can cause rainbow flashes. Some people notice that more than others.
Laser has great durability, yet expensive.
I haven't upgraded yet to a native 4K HDR projector as it's $$$$$. TV tech is moving so fast atm that it's not worth it. 1080p projectors however are very affordable nowadays (mine was 4k dollars in 2008) and tons of fun. PS4 pro Horizon Zero Dawn looked absolutely gorgeous on that old 1080p projector. At that screen size you get the full benefit of super sampling.
The most important thing with projectors is controlling ambient light. You don't get blacks when your room is bright.
Oh, I just noticed, that one you linked, 800x480 native resolution, 1500:1 contrast, 1200 lumens, don't expect too much from that. That's very entry level. Mine is actually 1100 lumens which is just about enough to get cinema brightness on a 92" screen (15 Fl) and needs that room to be pretty much dark to get the best picture. Contrast wise my old projector is rated 11000:1 also rather low nowadays yet great for when it came out.
Compare to this::
3,000 lumens, 23,000:1 contrast ratio. That's a modern 1080p projector. It's $500 though and DLP which you probably want to check out in a store first.
'Cheap' is under $1000 ....