There's plenty of lens shift adjustment range. The Pro Cinema 4030 projector can be placed, either normal or inverted anywhere from 22.7 inches above the top of a 100″ screen’s surface, all the way down to 22.7 inches below the bottom of the screen surface. Measurements are calculated by measuring from center of the lens. There is also a good amount of horizontal lens shift. Using horizontal lens shift will partially limit the range of the vertical lens shift (and vice versa).
It's impressive! The wide range zoom lens plus the excellent lens shift, makes ceiling mounting, or shelf mounting the Home Cinema 4030 possible in almost any room.
Pro Cinema 4030 - Overall Placement Flexibility
The Epson gets a pretty close to outstanding. With only one real limitation. That's typical of the higher end Epson projectors, thanks to the 2.1:1 zoom, which has the most range of any, although there are a number of 2:1 zooms, notably from JVC and Panasonic. Most others have less, many, far less, such as 1.2:1 or 1.3:1 zooms.
Lens shift is also extensive. It's not quite the best, but there are few projectors that can offer more vertical or horizontal shift. To have much more flexibility, you would really need to have interchangeable lenses, so you could have the option to mount the projector extremely close or far, far, away, as well as in the normal ranges.
But there is something else, and that's the only real limitation - to very few people. The Pro Cinema 4030 projector does not support using an anamorphic lens (to use wider, 2.35:1 screens, than the standard 16:9 HDTV screens). Epson reserves that for the Pro Cinema 6030 UB. That's fair. Cinemascope shaped wide screens are most common in much high end installations, not surprising with anamorphic lenses priced from $1500 to the stratosphere.
So, overall, consider the Pro Cinema 4030 to have excellent placement flexibility.