I love capitalism. In a capitalist market, competition drives manufacturers to reach higher performance standards while simultaneously sinking to lower and lower price points. A year ago, a high definition front projector for under $1000 would have been unheard of, but that's just what Optoma was showing off at the CES Press Preview in New York City earlier this week.

Optoma's HD-70 ($999) is a single-chip 720p (1280X720 pixel) high definition projector featuring Texas Instruments' new DarkChip2™ DLP® DMD chipset.

And, bucking the trend toward larger bulkier projectors, the HD-70 weighs in at a svelte 5.6 pounds, and measures just 10.4 X 3.7 X 10.1 inches. It features a respectable 1,000 ANSI lumens brightness rating as well as a 3,000:1 contrast ratio (4,000:1 in Optoma's "ImageAI" mode).

The 16:9 projector does not include lens shift but it does offer digital keystone correction, in both the horizontal and vertical axes. The HD70 sports a myriad of video inputs including HDMI, component video, VGA computer input, S-video and composite video, as well as a quiet 28dB operational noise level.

Rather than trying to set up an elaborate darkened tent or room within a room to get a decent picture on a large screen at the brightly lit trade show, Optoma projected onto a 20-inch screen instead, so it was not really possible to judge the picture quality. But the specs and features are pretty impressive for a budget projector.

HD70 Full Specifications:

• Display Technology: Single 0.62-inch DarkChip2™ DLP® chipset
• Brightness (typical): 1000 lumens
• Contrast Ratio: 3000:1 (Full On/Full Off); 4000:1 in ImageAI mode
• Resolution: 720p native
• Uniformity: 95 percent
• Video Compatibility: NTSC, PAL, SECAM, HDTV (720p, 1080i/p), SDTV (480i/p, 576i)
• Aspect Ratio: 16:9 native, 4:3 compatible, LBX support
• Video Inputs: Component Video, VGA, Composite Video, S-Video
• Lamp Life: 3000 hours (standard)
• Weight: 5.6 pounds
• Dimensions: 10.4 X 3.7 X 10.1 inches