The Viewsonic is actually a higher level model (It's really the Hitachi CP-S860W). It has a slightly higher on/off contrast at 250:1 compared to 200:1. It has 2000 ANSI lumens compared to 1000. The specs may vary a bit according to how they're measured.
There are definitely better choices for home theater, but if you can get them inexpensive enough, they may be worth it.