LCoS is not DLP. it is a type of projection technology, but not the type of projector you are thinking. Its Rear Projection, not Front Projection. You get picture quality much higher than any LCD or Plasma technology available today; its comparable to almost CRT quality picture. Its also a lot cheaper than LCD and Plasma. The nature of the technology is also native at 1080p, so you wont get much lag while playing video games, while you will with LCD and Plasma.
It really only has 3 downsides. The footprint: while LCDs and Plasma televisions these days are about 3 inches thick, an LCOS television will be about 16 inches thick, due to it being a rear projection technology. Standard definition: the television is native at high definition, so when handling standard definition, it has to upscale, and the technology isn't good at it. Your PS3/360 games look gorgeous, but your PS2/Wii games will have a half second of streaking before the picture settles in.
And the biggest major downside... The bulb: LCoS telvisions use an expensive bulb that has a limited life. These bulbs are estimated to survive about 10,000 hours of use. The TV in my room, which is on about 16-24 hours a day, lasted about 18 months. The TV in my den, which doesnt get far as much use, is still running strong at almost 3 years. However, its not a hassle to replace, its just plug and play to replace the bulb. Get the extended warranty with 3 free replacements, and when that is gone, the bulbs are about $120 each.