While the 7205 is very good projector, the Infocus 4805 is reputed to have a better overall balanced picture due to its superior contrast ratio. (Even though the 7205 has a native resolution of 720p vs. the 4805's 480p.)
In any event, you would probably be happier still with the new
Infocus 7210 which features the new TI DLP DarkChip3.
Here's a recent review of the 7210 from ProjectorCentral.com:
http://www.projectorcentral.com/info...nplay_7210.htm
And, by the way, all of these projectors now feature 4x or better color wheels with 6 or more segments, so the rainbow artifact (commonly referred to as RBE) should no longer be a factor.