Sure, just ask Kerpal to post a pic of his gaming room.
You can't use them well in a room with any kind of natural light but if you have a theater room, you can have an affordable 100+ inch HD "TV".
Bulbs will add up after awhile, a projector should be more for specialty use than every day TV watching.
Although they have LED projectors now for the same prices as traditional ones from a few years ago - and the LED versions have something like 100,000 hour lamp life with hardly any degradation toward the end.
For those willing to spend the money there's screens that actually work outside of a dark environment - but last time I looked at those they were like a thousand bucks, this was about 2 years ago.
I agree that either way a projector is best for "special occasions" rather than everyday use, unless you actually have a dedicated room...
I've been running an HD Projector setup for "routine" use for over 4 years now. For me, there is no way other way to go. I don't understand why people spend so much money on a LCD or Plasma when I can blow them out of the water for half the price. They make plenty of projectors now that work perfectly fine in daylight. When I bought my projector, the best lumens you could get was about 2000. Now, they have projectors with upwards of 10,000 lumens! I think if you looked at that it would be like staring into the sun. LOL. The screens are not too bad now. I think I paid about 700 bucks for my Carada screen that is designed for 16:9 picture and is a 120" screen. They do have cheaper ones now and many different options. As far as bulbs go, I think its how and what you use your projector for becasue my bulb had a 3 year lifespan and its still going strong. A replacement bulb would cost me around 100-200 bucks since my projector isn't the latest and greatest now.
I guess one thing I would suggest to someone who is looking at buying an HT system is research. I researched nearly every TV, sound system, etc for about a year and half before I figured out that a projector system was what would work for me. They're not for everyone, but once you go there, you'll never want to go back to just plain old TV again. I know I won't.