It should be noted, that the Home Cinema 710HD's LCD panels project a 1280x800 image, not the standard 1280x720 which is 720p. It is the only stand alone 3LCD projector I am aware of, that uses the 16:10 1280x800.
So that you understand, 1280x800 is referred to as WXGA (not 720p), and is the standard for most widescreen laptop computers. This goes back to the Home Cinema 710HD's roots as a crossover projector, sharing the same LCD panels as the virtually identical Epson Powerlite W7 projector, which is marketed as a business and education projector.
All considered, the Home Cinema 710HD is a "crossover" projector, one suitable for typical business presentations but one with sufficient image quality to double as an entry level home projector as well.
Home Cinema 710HD Lens Shift
The Home Cinema 710HD does not have lens shift. Adding lens shift would increase the price. If you are interested in an Epson projector with greater placement flexibility, there's the Home Cinema 720, a projector for the more serious enthusiast, which is only a few hundred dollars more. Other 720p projectors with lens shift include the Panasonic PT-AX200U and the Sanyo PLV-Z60.
The projector has a small amount of offset. For that same 100" diagonal 16:9 screen, the center of the projector's lens would sit 2.7 inches below the bottom of the screen surface. Or, if you are ceiling mounting, the projector mounts inverted, and would have its lens 2.7 inches above the top of the screen surface. All these numbers are from the Epson manual.