There are only three projectors in the entry level price category, with the Mitsubishi HC4900 and the Sanyo PLV-Z2000 seeming to slug it out for the lowest price, depending on the promo of the month. Definitely more expensive, is the Panasonic PT-AE2000U.
In this page, we summarize the trade-offs between the Mitsubishi HC4900 and the Panasonic PT-AE2000U.
Overview
Image Quality
General Performance
Warranty
Summary, Pros, Cons
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
Both of these projectors are 3LCD types, so in some ways are very similar, in both layout, and in certain aspects of performance. There are, however also significant differences, above and beyond the pricing.
In reality, these two probably have enough differences that it will be an easy choice for most, when considering both. Some will definitely favor the Mitsubishi HC4900, while others will choose the Panasonic PT-AE2000U.


Above: PT-AE2000U (left), Mitsubishi HC4900 (right). The Panasonic, is a physically larger projector.
Let's look at the key differences:
The Mitsubishi is an exceptionally sharp projector, as is its more expensive sibling, the HC6000. In fact a nice sharp image seems to be a trademark of all the Mitsubishi home theater projectors that use 3LCD technologies. How sharp is it? Well, let's just say that it is sufficiently sharp, that I consider it to be sharper than the Best In Class winner of the $3500-$10,000 category, the JVC DLA-RS2.
By comparison the Panasonic is one of those projectors that I call a bit soft, as opposed to sharp. We are not talking a huge difference between these two, and if you saw them at different times, most people would not notice any difference, but seen side-by-side, the HC4900's image is slightly, but visibly crisper!
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Both of these projectors are what I would describe as very good consumer projectors, appealing to most home theater projector buyers, but not the hard core enthusiasts. The enthusiast doesn't mind, and more often, looks forward to 'tweaking" their new projector, for color accuracy, black levels, and more, while most folks just want one that works well, "out of the box."
Both of these projectors actually do a very good job out of the box, in terms of color accuracy, however, I would have to give the advantage to the Panasonic. Glancing back at my original reviews and commentary, I typically described the PT-AE2000U as very good, and the HC4900 as good. To provide perspective, there is, I think, only 4 projectors out of the twenty in the whole comparison, that I describe as excellent, and three are JVC projectors selling for roughly $5000 and up.
Of course, if you are "into it" both projectors can be improved upon slightly. For more on that see the calibration section of the original reviews.
In "best" mode, the PT-AE2000U is notably brighter than its predecessor, the PT-AE1000U, and can now be considered just average in brightness among all of the home theater projectors in this review. We measured it at 388 lumens.
By comparison, the Mitsubishi is significantly brighter, with a measured 688 lumens, making it by far, the brightest of all the 3LCD projectors tested, and brighter than all but a handful of "light canons" most of them between two and five times the price.
Things change though, when you need maximum lumens. In that case, these two projectors are much closer together, with the Panasonic having a slight advantage, with 1019 lumens compared to the Mitsubishi's 962 lumens. Considering the measurement accuracy, and other points like how many hours were on the projectors when I received them. Let's just say, that in brightest mode they are a tie.
That difference in "best" mode, though is very significant, and certainly gives the HC4900 projector a big advantage for the "family room" crowd, those without the ability to fully darken their rooms even in the evening. For that matter, also those who want a little light on, even when movie watching (that would include my wife).
Another group that will favor the HC4900 are those who are primarily movie watchers, but want very large screens - say 120" diagonal and up, where the Panasonic simply runs out of steam. In best mode, the HC4900 can easily handle my own 128" diagonal screen, but the Panasonic, is probably not a good choice for anything above 110". By the same measure, the Mitsubishi is probably too bright for anything below 100" diagonal if you want anything even remotely resembling "blacks".
The Panasonic, as I said, is average, in "best" mode, or perhaps just below that - I normally say 400-450 lumens. Coming up 12 lumens short, is well within the margin of error.
Now we get into another major difference. The Panasonic is about typical in terms of black level performance: We're talking about how dark gray-blacks look on a screen (only CRT projectors can produce a true black). Often I like to say, that "black levels are the holy grail of home theater projectors", and certainly it's about on the top of every hard core enthusiast's list of important abilities.
By comparison, the HC4900 had the least good black levels of any of the 1080p projectors tested. Should this scare you off? The answer for most, is no. First, for the best possible black levels, you need no ambient lighting - I'm talking cave here, and the cave should have dark walls, ceilings and floors. (Not exactly your average family room, but what most people creating a dedicated theater room strive for.) If you have even a very low level of lighting in the room, it will quickly destroy black levels. Even with all lights off, having white or off-white walls means enough light is reflecting back to the screen to reduce black level performance.
So, how much difference does the room make? If you've got that dedicated cave, the difference is rather significant. Even with white walls, you will be able to tell. But, it doesn't take much ambient light to reduce any difference to insignificance.
I need to definitely point out, that while I am picking on the black level abilities of the HC4900, I should mention, that compared to the typical, and not much less expensive, lower resolution, 720p projectors, the HC4900 does just fine, probably at least average or perhaps a little better. (There are some 720p projectors though that are really good).
It really comes down to this, if you are a serious enthusiast, the HC4900 just isn't for you, but most consumers are less concerned about black levels and more concerned about a host of other items like brightness.
When it comes to shadow detail, how much you can see in the darkest areas of a scene, both projectors perform very well. No issue there.
I have to give the advantage to the Panasonic. Like it or not, those better black levels do make for a more perfect image, and the Panasonic, out of the box, does have a slight advantage in color accuracy, although with a little work, both projectors can do better than what you start with.
Some might argue with me, based on the sheer difference in brightness and sharpness, with these two in "best" modes. If you are less critical, the HC4900 still comes out just great, sharp and bright, and good shadow detail. If you are more critical, you are willing to sacrifice some brightness and sharpness, and black levels for more perfection.
Ask yourself this: You've owned TV's for years, when was the last time you ever touched the controls - if ever? Did you realize your TV probably has modes for Movies, or Vivid/Bright modes (for bright rooms), and more?
Both projectors are very well endowed, with a good selection of inputs, and lots of lens shift. The Panasonic has the advantage of more zoom range, 2:1 compared to the Mitsubishi's 1.6:1, but for most the Mitsubishi will have enough to work for them, ceiling or shelf mounting. Both also have power zoom and focus. The Panasonic comes with a learning remote that can control the projector and up to three different devices. Of course you can buy other programmable remotes for not too much money.
The PT-AE2000U also has a built in wave form monitor and "split screen" color management, features that should appeal to enthusiasts, as they let you freeze a frame, and see, side by side, how your changes to various image settings affect the image. Basically, it gives you a look at "before" and "after". Nothing like that on the HC4900, or any other projector in this report.
No question that the Mitsubishi HC4900 is priced well below the Panasonic. Based on March 2008 pricing, the HC4900 has a $500 mail-in rebate, and most dealers are selling it for under $2500, and often a couple/few hundred less. By comparison, the Panasonic is probably going to cost a couple hundred more on initial purchase, but instead of a cash rebate they provide a 2nd year warranty, and a $400 Blockbuster rental card. Problem is, not everyone is that interested in the rental card (some are apparently selling them off on ebay?), and for them the price difference will seem like at least $500.
Of course prices will change over time.
I don't think the value proposition figures very significantly when comparing these two projectors. That is because the differences between the two are more likely to eliminate one or the other. If you need the lumens, it's the Mitsubishi, if you want the black levels, it's the Panasonic... and so on.
Mitsubishi offers a standard two years parts and labor, better than Panasonic's 1 year warranty. However, for most of the time the Panasonic has been shipping, they have made the second year extended warranty part of their promotions. As long as Panasonic continues to do so, it's a tie, in terms of warranty coverage. Neither offers overnight replacement or a loaner program.
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Art's Two Cents
This is just a matter of reiterating what I said above. While both of these are great consumer projectors, with different strengths, it is the specific requirements of the users that will determine their choice. Even forgetting the price difference, the Mitsubishi HC4900 has the distinct advantages of more "horsepower" to support larger screens, or deal with ambient light, and more sharpness. The Panasonic has a definite advantage in black levels, thus appealing more toward those seeking a more technically perfect image. If you just want something that really can rock in the family room, the HC4900 has to be the best value around. While many 1080p projectors are better in different ways, and as I said earlier, that it's black levels are the worst of the 1080p projectors, it is still good by the standards of, say, two years ago.
Thus, the choices are pretty clear. I should say, that for those who don't need the extra lumens, but are definitely limited in budget, they will be comparing the HC4900 to the similarly priced Sanyo PLV-Z2000, which in many ways is very similar to the Panasonic, but sharper, and even less bright.
On the other hand, the Panasonic's better blacks make for a slightly better image for those that really care. Remember, there's always something better coming, but the Panasonic is the kind of projector that once you have it, you just sort of have to say, "this is really good".
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