Summary
The P502WL is a compact and modestly "installation" class projector that is also suitable for some business and education applications. Its laser light engine gives it certain advantages over bulb-based projectors, the most notable being lower maintenance requirements and increased mounting flexibility.
The P502WL received out Special Interest Award for it combination of features, price and performance.
Like many other business and education class DLP projectors, the P502WL has substantially lower color brightness as compared to white brightness in its brightest picture mode. This may be important if you need a really bright projector for accurately displaying color pictures, videos or graphics. On the other hand, many potential buyers may find that the higher brightness picture modes are suitable for displaying the typical business or classroom presentation materials, where color accuracy may not be all that important.
The P502WL does have a few missing features as compared to more expensive installation class projectors, including some models from NEC. Most notable, if lacks interchangeable lenses, does not have the built-in support for seamlessly joining together the images from multiple projectors to created super large, high visual impact images as used for certain marketing applications, and it lacks user adjustments for calibration of the projected image. But it is still a good buy as an entry-level installation class projector and will also be suitable for many conference room and education applications (most likely at the college level).