Utimately, you can buy a better home theater projector, but for more money. With the possible exception of one or two models other "affordable" 1080p projectors just being released, but not yet reviewed, it looks like the Sony VPL-HW10 is about as good a value in a higher performance projector, as you will find.
We considered the Sony VW40 last year, to be similar to, but a "poor man's" JVC RS1, this time around the VPL-HW10 has closed the gap between those two projectors, and the new Sony still costs less. We shall have to wait and see if the HW10 turns out to be a poor man's JVC RS20, the new version of the RS1. In the past I've recommended the VW40 to folks who didn't have the budget for the RS1, and the feedback has been very good.
Based on your budget, and other issues, you'll need to decide if you can live rather well, with the HW10, or feel a compelling need to choose from a handful of well under $10,000 1080p projectors that can produce an even better image.