If you are convinced that you can live without a higher resolution projector, have determined that the budget is tight, and you can live with a projector lacking a zoom lens, then stop right here. You've almost certainly found your projector. You can spend more, for more features, and for higher resolution, but the value proposition of the Epson S5 is outstanding.
Let's look at the Powerlite S5's strengths and weaknesses.
Epson Powerlite S5 Summary:
I suspect there are a few current model projectors on the market that are slightly less expensive than Epson's S5, and not having reviewed any of them, it's hard to be definitive. The Epson Powerlite S5 is an excellent, solid projector. It is well thought out, produces great, rich, saturated, data and video images. And, it has to be the brightest projector anywhere near the price. Not enough, the S5 is easy to use, and comes with a world class warranty.
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If there is a downside, it is that it lacks a true zoom lens. Nevermind that most projectors that have zoom lenses near the price of the S5, only have a 1.2:1 or less zoom ratio, meaning only placement flexibility of a foot or so, for a typical classroom or training room sized screen.