The decision to share the Best In Class, Runner-Up Award, between these two projectors, was probably the toughest awards decision to make. Each projector, at its very best, is truly impressive. Each has some shortcomings, but different ones.
Overview
Image Quality
General Performance
Warranty
Summary, Pros, Cons
Links to additional one-on-one comparisons:
Panasonic PT-AE2000U vs. Sanyo PLV-Z2000
Mitsubishi HC4900 vs. Panasonic PT-AE2000U
Sanyo PLV-Z2000 vs. Mitsubishi HC4900
Epson Home Cinema 1080 UB vs. JVC DLA-RS1x
Sony VPL-VW40 vs. Epson Home Cinema 1080 UB
Epson Home Cinema 1080 UB vs. Panasonic PT-AE2000U
BenQ W5000 vs. Sony VPL-VW40
JVC DLA-RS2 vs. Sony VPL-VW60
The first, obvious thing, is that both are rather large projectors. They both also have vertical lens shift, although the Sony has a little more vertical range than the BenQ. The Sony has only very slight horizontal lens shift, while the BenQ has none at all.
Both have very good remote controls, but not the best around. (I favor the BenQ remote).
Neither projector supports Deep Color. The W5000 only has HDMI 1.2.1 which cannot support Deep Color, but even though the VPL-VW40 is HDMI 1.3, so it could support it, Sony, apparently chose not to.


Above: BenQ W5000 (left), Sony VPL-VW40 (right), both are large, but the Sony is deeper, while the BenQ, wider.
BenQ does support an anamorphic lens add on, while the Sony does not. As noted with other projectors, you can add the necessary support with an outboard image processor, but they are expensive, and significantly alter the value proposition.
Dead tie, here. Both come with a very basic one year parts and labor!
Time to consider the differences:
Projector Sharpness
The BenQ definitely has an advantage in sharpness. Overall, it is one of the sharper projectors. The Sony isn't very far behind, but score a point for BenQ.
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The Sony was disappointing, with its out of the box color accuracy screaming for a calibration - at least an end user one, using a disc, like the AVIA or DVE discs, is a must. A professional calibrator is highly recommended.
BenQ is definitely better out of the box, in fact very good, except for overly strong green, which is fairly easy to improve on. Of course you still want to at least use a disc, to make things better!
The W5000 and the VW40 are pretty close to a tie in terms of black levels. Both rely on dynamic irises (the BenQ also has a manual iris, which we normally left pretty wide open for maximum lumens). They will vary more by scene, than overall, as their irises behave differently. If I had to pick a winner, it would be the Sony, but these two are too close for that to be a defining difference.
In terms of shadow detail, again, both are excellent. I think the VW40 digs out a little more detail in the darkest shadow areas, but the BenQ, exhibiting a trait that seems more common to DLP's than other technologies, tends to have richer dark colors, so overall, they jump out at you more, making for a more impressive image. Consider the girders in this side by side space image. BenQ W5000 is on the left, Sony VPL-VW40, the right:
You will note, however, that the BenQ image is the brighter of the two. Both were shot in Best Mode, the BenQ lamp on low, to try to achieve balance in brightness, but the BenQ is still probably a good 50-75 lumens brighter.
Another really tough call. From one standpoint, the Sony has the advantages of, perhaps a touch of an advantage in shadow detail, even though the BenQ's image appears a bit more dynamic. Both once adjusted, do just fine on skin tones and overall color balance.
The BenQ has the advantage on sharpness, and brightness, but is plagued by more image noise than any other projector in this report. Let me put it this way:
The Sony is the more consistent projector, in that it handles most everything very well, but the BenQ, when it looks really good, looks truly great, but at other times, its flaws (image noise in particular), show. The W5000 is more of a Jekyl and Hyde personality.
Other trade-offs are: The BenQ, being a single chip DLP projector means some will be susceptible to the Rainbow effect (which annoys a small percentage of us). Conversely, these projecors are both supporting 1080p/24fps, and no longer need 3:2 pulldown (and the slight jerkiness, known as "judder" that is visible on many scenes). That brings up the issue of motion blur, found on 3LCD and LCoS projectors, but not on the faster DLP technology. My take on that, is most people don't seem to notice, or rather only notice it when looking for it, so I don't consider it a serious problem. Still, with judder out of the way, it replaces judder as something new for perfectionists to agonize over.
Both are selling in the mid-$2000 price range. They are close enough, that which is less, is probably going to be determined by who you buy one from. However, from looking around, the BenQ is probably a bit less at this time - right at $2500!
A tie! These are two projectors, very similar in so many ways. For some, it will be the BenQ, primarily for the difference in brightness, and that DLP look and feel of the image that decides the issue. For others, it will be the more consistent image quality of the Sony, without any rough edges.
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Art's Two Cents
If it wasn't for the Image noise issue with the BenQ W5000, I'd have to say it is the better pick, but that's a big "if". I like the extra lumens, and they are both very capable in terms of overall image quality.
Both offer only one year warranties, which I think is embarrassing, on a product at this price point, but since they offer the same, that's no help.
Both are about equal in terms of "future-proofing" neither can work with an anamorphic lens, without an outboard processor, and neither supports Deep Color.
When watching one, then switching to the other, I kept coming back to, "at its best, the BenQ produces the more impressive image". Thus, I would say that it is the more "general consumer" choice, but it may appearl as well to the "hard core", for being DLP, with the DLP characteristics, that are a part of being "film-like."
Still, there are its rough edges.
So, I'm right back where I started from - these are a tie. Figure out what matters most to you, and you'll have your pick.
Click on these links to read more in-depth comparisons.
Panasonic PT-AE2000U vs. Sanyo PLV-Z2000
Mitsubishi HC4900 vs. Panasonic PT-AE2000U
Sanyo PLV-Z2000 vs. Mitsubishi HC4900
Epson Home Cinema 1080 UB vs. JVC DLA-RS1x
Sony VPL-VW40 vs. Epson Home Cinema 1080 UB
Epson Home Cinema 1080 UB vs. Panasonic PT-AE2000U
BenQ W5000 vs. Sony VPL-VW40
JVC DLA-RS2 vs. Sony VPL-VW60
Overview
Image Quality
General Performance
Warranty
Summary, Pros, Cons