Projectors do not work real well when there is a lot of ambient light in the room. They just do not have the light output to compete with a LED. The people I have known who have put projectors in their main viewing areas have been disappointed, unless the area has few windows. It might work for you, just be aware of the light issue.
If you go to a projector, you might want to look at sound transparent screens, which means you could hide the speakers, although the screen may be more expensive. If you have the room, you can even use stand alone speakers behind the screen, which can probably give you better sound than in walls.
If you go to a projector, you might want to look at sound transparent screens, which means you could hide the speakers, although the screen may be more expensive. If you have the room, you can even use stand alone speakers behind the screen, which can probably give you better sound than in walls.