I bought a projector 2-3 years ago on Ebay for about $200. I love it! It's 1080p, but I really do need the room to be as dark as possible. I'm cheap though, and I can't believe the experience I am getting out of a $200 device. I can't find the exact model I bought, but here is a similar model:
https://www.ebay.com/itm/Power-RD-806-Hd-Home-Theater-Projector-2800-lumens-Support-1080P-3D-Projector/283071285222?hash=item41e85d07e6:g:-H8AAOSwa~NbWDjF:rk:2:pf:1&frcectupt=true
Blue Ray movies look awesome on it. I feel like I have a movie theatre in my own home. Also, you are going to need a sound bar or speakers if you want any decent sound. (It will output sound, but not nearly as well as a TV.) A friend of mine gave me an old sound bar she wasn't using any more and now I have the full theatre experience. DVDs look decent too, but you can definitely tell the difference between a Blue Ray and a DVD. Because of my room size, I get about an 80" screen size, and I just shoot it on my wall without a screen or anything.
At first I just thought I would watch everything on it, but some things are meant for a big screen and some things aren't. For example movies look great, especially Blue Ray. But DVDs look good too, because movies were made for a big screen. TV shows do not really "wow" me on the projector, even if they are filmed in HD. Movie makers put more details on the screen than TV directors do and so movies just look better on a big screen. Movie trailers still look great, even if they are off of Youtube.
As far as games, the ones that look the best are the ones that are made to look "cinematic". For example Uncharted 4 looks fantastic when played on a projector, and not just the cutscenes either. Just the basic gameplay is made in a cinematic way and looks great. Both Darksouls and Bloodborne look and sound great with my set-up too. These games were a really intense experience for me. (I actually don't really care for Bloodborne, but that's another story. Visuals and sound were not the problem, lol.) I didn't get scared playing the earlier Souls games on a normal screen, but I was really shaking and on edge playing Dark Souls 3 on this projector. On the other hand I prefered not to have Zelda: BotW on the projector. The graphics are "cartoony" and so what I prefer with that game is vibrant colors, and my picture looks a bit washed out. It is more obvious on "cartoony" games or retro games. The only retro games I play on it are on the mini consoles. The projector is right behind my couch and I can just put the NES/SNES mini right on my couch and now the controller's cord length is not a problem any more.
Probably the biggest disadvantage this projector had is that it didn't come with an instruction manual. At first I thought that my projector just sucked or I needed a special screen or something. After fiddling with the settings a long time, I found some that looked great. However, ideal movie settings are different than ideal game settings. I tend to use it more for movies, so I just leave it on those settings. My movies look great, but the colors are not quite right on the games I play. Or I could find good game settings, but then movies wouldn't look right. And I just don't feel like messing with the settings going between the two types of media. It's a pain in the butt to keep adjusting it.
Overall, I am very happy with my projector though. I guess if I could afford one that was $1000+, then I might get that instead, but there is no way I'd ever buy one that expensive. This is almost as good, and I get the theatre experience at home. But I need to keep the room pretty dark and it took a lot of time to mess with the settings.
