Chinavasion has created yet another portable pico projector. They call it the E193 Mini DLP pico projector which has packed a bit better of 20 ANSI Lumens brightness (compared to 15 LUMENS on their older versions), up to 80-inch of display supporting native resolution at 860 x 480p and 2000:1 contrast ratio.
For the life span, since it is a LED based projector, it could offers up to 30,000 hours of LED lamp life before you can let it retire. You can use it for 1 to 3 years depend on how long you use it per day.
This E193 mini DLP pico projector has offered both VGA for PC, laptop connectivity, and component cables for TV and DVD player. This pico projector is currently on sale at Chinavasion for $299.86, though you can get it cheaper if you buy more than 2 units.