The Pros of projectors
Size: Most projectors produce great images at sizes of 90" to 120" diagonal, which is far larger than anything you can get with flat screen TVs or rear-projection TVs.
Cost: A front projector can be the least expensive alternative for a big screen in your home. Projectors range in price depending on a variety of performance factors but even some of the best ones are now more affordable.
Space saving: A small projector and screen can be invisible when it's not being used and takes up no floor or wall space.
Portable: If you get a portable screen they can be moved from room to room depending on where you want it.
The Cons of projectors
You need a dark room: Like a cinema, projectors work best in a dark room to get the most contrast. You may also need blackout blinds fitted at your windows if they let a lot of light into the room.
Maintenance: Most projectors need looking after while televisions don't. Projectors operate on lamps that need to be replaced (approximately every 2-3 years but check the manufacturer's specification) and are expensive. They also have air filters which need cleaning or replacing every few months.
Sound: For quality sound, most projectors require a separate sound system which can be pricey.
Connectivity: If you want to hook up your projector to a whole host of media devices; Blu-ray, games console, media streamer and sound system for example, it gets complicated, and will probably require meters of cabling to set up.
A projector will make your movies, TV, video games and photos look sensational but while it can appear to be less expensive than the latest state-of-the-art TV, there are cost factors you should consider; such as the additional sound system for example. Unless you setting up a room especially for your projector and other AV equipment it's probably more practical to have a light, portable projector and screen that you can put away when not in use.