You could leave out the color wheel entirely which would reduce the complexity. It's possible that a company like Sony could've actually tried something like this back in the day if they'd thought of it. It sounds crazy but if one guy with no resources could do it so effectively, I wonder what would've been possible.It's a very interesting idea. The really interesting thing would be if he could use a short-throw projector and make it thin enough to be wall mounted. I wonder how much you could cost reduce a projector if all you were doing is projecting a black and white luminance map.