The warranty is average for a projector. It is a basic 2 years parts and labor. There is no 1st year overnight replacement or loaner program like found on some brands of projectors. In today's market there are plenty of projectors with 1 year warranties, the most have 2 years, and there are also plenty of models with 3 years, but 2 years dominates, especially in the Home Theater class of projectors.
You have to give kudos to Optoma for doing the two year thing, afterall, DVD players and most Home Theater in a Box audio systems typically have 90 day warranties, although some of the HTIB's have a year.