I would say, wait until you can upgrade to at least 1280 x 720 (720p).
IMHO buying an x480 or an x576 is a waste of time and effort and money nowadays if you are at all into hi-def. They are simply not hi-def.
Two excellent 720p LCD projectors you can get in the $1600. range after rebates and bonuses are the Panasonic PT-AE900 and Sanyo PLV-Z4. Their predecessors 'AE700 and 'Z3 may still be available in stores and are also excellent, also have HDCP, and are available for less.
Video hints:
http://members.aol.com/ajaynejr/video.htm