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Which Optoma Pico Projector are you considering? The PK301? That's a pretty good device, and I've actually used that one too since my buddy bought that. It's rated at 75 lumens for the "plus" version and 50 lumens for the standard version. If you're talking about the PK320, that's 100 lumens...

Hey, that seems like an awesome idea for a get together this summer. If you don't want to spend as much as $500 and still have a pretty good movie watching experience, check out the P4-X by aaxatech. It's not as bright as the Optoma HD66, but it's portable and still bright enough to play a movie...