The Bios Mag crew spots a Sony Europe home HD projector with an impressive 15,000:1 contrast ratio. That's done with an iris that opens up to flood light through its lens when you're watching brighter scenes, and dialing it closer to closed when viewing dark ones.
The 1080p projector is based off of Sony's SXRD tech, which stands for Silicon X-tal Reflective Display, a proprietary version of LCoS, or Liquid Crystal on Silicon. Basically, liquid crystals reflecting light from the 200-watt bulb, like so many little 5ms mirrors.
Throw in 2 HDMI connections, and an ultra low noise rating of 22db and we're talking about some serious home theater hardware. And by the way, forget about buying it, when it comes stateside (if it comes stateside) it'll probably cost as much as a used car.
UPDATE: Andrew writes in that this is probably going to be a cheaper version of the already-stateside VPL-VW100 projector that uses a 400-watt xenon bulb.
Sony VPL-VW50 Projector [Bios Mag]