A guy that I used to date had his Xbox set up in his basement, using a projector and a screen to play games and watch movies. It was an absolute blast to play down there. I remember that it was expensive to purchase initially, but it was so worth it! I'm not sure of the specifics of his set up, but yeah...a good projector is pretty expensive. His was a ceiling mounted one. If you end up doing it, post a few pics for us to see!! We just don't have the room for it in our house now.