Help me pick a projector.

Don't forget to research the MTBF for the bulbs and to price the replacement bulbs. Ebay is covered with used projectors in "good working condition" that not coincidentally also need new bulbs. You can only guess why...

I would look for one of the brighter, more current 1080p projectors, in the 2500-3000 lumen range. Optoma HD25-LV or Panasonic PTAR100u are supposed to be really bright HT projectors, that might just work well for you.
If I'm not mistaken, one or more of the recent projectors have been reviewed as having pretty descent color temp accuracy in the higher lumen output settings! (typically, bright modes on pj's are more green or blue in cast when you crank em.
JVC's are otherwise SUPERB projectors w superior black levels and contrast, which also have better than most brightness in the best cinema modes. Although, for a white wall image up to 150 inches, I think you still might look at others, and maximize contrast, brightness, and color saturation, for large screen applications, even if you sacrifice ultimate black level, per se. Also, pj's with marginal black level will still perform pretty well on a large screen, making black appear a bit better than it it, compared to the bright whites and color on the image that big. My experience.

I'm still using an older Sony, and I like it a lot. When I added onto my house, I did a dedicated theater room. No widows, pitch dark at noon. I shot the pj on the wall for fun, even though I knew I was buying a screen. To my surprise, it looked fairly good. Then I went and demoed different screens. The shop I was at had different screen types they put up on the fly during movies. They all look different. Everyone has different likes, and dislikes too. Make no mistake about it, the screen means as much, or more, than the pj. (assuming they are of about the same quality) you probably could be content using a wall, but if you see the difference for yourself, you probably won't be happy.

Thanks for the advise guys. I hope to start construction soon and will let you know what I come up with.

Knowing that 4k will be common in a couple of years, should I buy a very inexpensive or used projector?

Same thing with the bluray player?

2nd vote for JVC & screen goo.

The DLA projectors from JVC really are superb performers, especially considering their price range. Unfortunately their lumens tend to be low, however in a basement, this is not so much of an issue. Reaching to the 150" ballpark, you would want to put some consideration into a reflective screen or surface to compensate for the semi low lumen count. Other wise crank up the photon cannon and go 2k lumens+..

On ebay watch for used or refurbs for the DLA-X3, DLA-RS40, or others similar to those units. You may find one with high time (be sure to ask as they all have counters on them). However with new replacement bulbs in the $100-$200 range, this almost puts you into the new catagory for pennies on the dollar. We have bought a few of the X3's for around the $1.5k mark within the last 6 months. Few and far in between but they are out there. Save your $$$, till 4K becomes justifyable and call it a day. IMO.
I have used screen goo several times in putting screens in precarious places. As well on standard setups. This system has is respective places, though is a rock solid performer. Comparing to standard wall paint will make anyone very glad they spent the extra change. Pay close attention to the application method and follow follow follow the instructions when painting. You can muk up a beautiful screen easily. Once you do, there is almost no fixing it…