The value proposition of the PH530 is simple. If you want a 720p projector, and this is all you can afford, by all means, go for it. Despite the issues raised, it does produce a very acceptable picture to watch.
Other than image softness, the Acer mostly comes up short in non-picture qualty areas. So, you get a pleasing picture to watch, but may find some other aspects to be a bit annoying, or, perhaps, less user friendly, than the competition.
The problem with a home theater projector living off of its low price as its best strength, is that rarely does one projector stay the lowest cost, before something else new comes along, or some competitor drops their price. That said, today, the Acer PH530 is that true "entry level" 720p home theater projector.
And, once you've tuned the picture, (try the settings I've provided, they should do the trick), you are likely to be very pleased.
I should point out, that just 2-3 months ago, the lowest cost home theater projector I could find out there on the Internet, was the InFocus IN72. A projector, prettier physically, and with a better picture on screen (sharper, better black levels, shadow detail), and better out-of-the-box. That InFocus could be had for $499 to $599, a bit less than this Acer, BUT, the IN72 was only 480p resolution, so, in terms of resolution overall clarity, the Acer has the edge.
Dollars (or Euros) hard to come by? Then consider the Acer, but it's a tough call.