A newbie seeking advise on a projector


I am a total newbie thinking about putting together a HT system and I need advise on what projector to buy. I would like to spend between $800 to $1200. Is it possible to buy a decent projector for this kind of money? If so, can you recommend me a specific model? Also what are the pros and cons of LCD and DLP projector?

Thanks,
opus111
I should clarify Prpixels comment on my bulb, it does have 450hrs on it but still works, it is arching though and gets a high/low variance in light output that at times gets obvious and distracting but it still outputs very good light. Some notice and some dont but it bothers me as I spent my working like in Printing so am pretty sensitive to color and critical of image.
Glad we all seem to have helped, projectors are all in all awesome choices for a great viewing experience.
No confusion, he may have thought a bulb only lasts 450hrs and I didnt want him misled is all.
get a used marantz vp12s2 or s3. I bought new 6 years ago and still love the pics. HD on 10 ft screen. Price for used unit very reasonable. Bulbs are pricey but most are