Very nice. The PT-AR100U focuses very nicely. The result is a sharp image as you can see from the first close up comparison below (PS3 screen). No issues at all. While one can argue that single chip DLP projectors technically have the big advantage of not having to converge three separate color beams, and thus are typically sharper, but in this case, I don't think that holds up.
The reason is that first, Panasonic has done a very good job in overall sharpness and convergence, so it starts out pretty sharp. But the other reason is the competition. Most of those low cost DLP projectors simply haven't invested in optics as clear as the Panasonic's, or at least that's my take.
The end result, some of those others are visibly a bit soft looking for DLP projectors.